India`s bio-economy witnesses remarkable 16-fold rise in 10 years: Jitendra Singh
Union Minister Jitendra Singh on the occasion of the release of ‘India Bioeconomy Report 2025’ (IBER 2025) has said that India's bio-economy has witnessed a remarkable 16-fold rise in 10 years of the past one decade, from $10 billion in 2014 to an impressive $165.7 billion in 2024. He further emphasized that this exponential growth is a testament to the government's commitment to fostering biotechnology as a key pillar of India's future economic growth. According to the said report, the sector is contributing 4.25% to the overall GDP. The sector has shown a CAGR of 17.9% over the past four years, showcasing India’s potential as a global biotech powerhouse.
The Minister has also unveiled BioSaarthi, a pioneering global mentorship initiative aimed at nurturing biotech startups. Designed as a six-month cohort, BioSaarthi will facilitate structured mentor-mentee engagements, offering personalized guidance to emerging entrepreneurs in the biotech sector. Singh noted that this initiative will strengthen India’s biotech ecosystem by fostering innovation, enhancing industry-academia collaboration, and positioning Indian startups for global success. The initiative would engage overseas experts, particularly from Indian diaspora as international mentors who would volunteer to give back to the society.
Underscoring the role of the government's policies in driving this transformation, the Minister highlighted the recently approved BIO-E3 Policy (Biotechnology for Economy, Employment, and Environment) which aims to accelerate research, innovation, and entrepreneurship in the sector. Under this policy, initiatives such as Bio-AI Hubs, Bio foundries, and bio-enabler hubs will be set up to integrate advanced technologies with biomanufacturing. Singh also announced that Assam has become the first state to adopt the BioE3 framework, marking a significant step toward pan-India implementation.
