Addressing the International conference, the Union Minister focused on bioeconomy-led growth and the sector projected to grow to $1 trillion by 2047.
- Bioeconomy is "the production, use and conservation of biological resources, including related knowledge, science, technology, and innovation to provide information, products, processes and services to all economic sectors with the aim of moving towards a sustainable economy".
Achievements of India’s Bioeconomy
- Sector Growth: $10 billion (2014) to $195.3 billion (2025), contributing 4.8% to GDP.
- Increase in Start-Ups: From 50 (2014) to 11,855 (2025).
- Lower Current Account Deficit: $12-14 billion savings in foreign exchange due to reduction in petrol imports.
- Growth Drivers: 20% blending of ethanol in petrol, consumption of GLP-1 class of drugs, opening of dozens of new Global Capability Centers (GCCs), and usage of enzymes and microbes in industrial sectors like textiles, detergents, food processing, biofuels etc.
- Research and Innovation: Development of world’s first DNA COVID-19 vaccine (ZyCoV-D), indigenous CAR-T cell therapy, mRNA vaccine platforms, India’s first indigenously developed antibiotic (Nafithromycin), establishment of a National Biobank.
Key Initiatives Promoting Bioeconomy in India
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