Report brought out by Department of Biotechnology and BIRAC captures phenomenal progress made by Indian Bioeconomy Sector.

• Bioeconomy is knowledge-based production and use of biological resources to provide products, processes and services within frame of a sustainable economic system.

Key Findings: 

• India’s BioEconomy reached $151 billion (2023) accounting for 4.25% of India’s GDP & employing over 3.3 million people.
  • Expected to reach $300 billion by 2030.
• Key Sub Sector Contributing to India’s BioEconomy
  • BioIndustrial (~48% ): Comprises biofuels, chemicals, bioplastics, etc,
  • BioAgri (~8%):E.g.  Genetically modified crops like Bt Cotton.
  • BioPharma (~36%): Focuses on pharmaceuticals, medical devices, diagnostics, etc.
  • BioIT/Research Services (~8%): Includes contract research, clinical trials, bioinformatics, etc.
• Major achievements Made: 
  • Leading Global Vaccine Manufacturer: India supplied 25% of WHO purchased vaccines and 20% of exports were to Africa.
  • Boost to Energy Independence: India is world’s third-largest producer and consumer of ethanol.
  • Breakthroughs in Precision Healthcare: E.g. approval of country’s first gene therapy clinical trial for Hemophilia A
  • Rapid growth in Biotech Startups:  Between 2021 and 2023, number of biotech startups surged to approx 8,500 (59% increase).