India's bioeconomy may reach $691 billion by 2035 and $2.6 trillion by 2047: NITI Aayog
The NITI Aayog in a report titled ‘Roadmap for Building India as a Leading BioEconomy Powerhouse by 2035’ has said that with focused, mission-driven implementation, India has the potential to expand its bioeconomy to $691 billion by 2035 and $2.6 trillion by 2047, generating over 30 million high-value jobs and establishing itself among the world's top three biotechnology powers. It said a bioeconomy refers to an economic model that leverages renewable biological resources to produce food, energy and industrial products.
To achieve this vision, the report said the country must move from fragmented initiatives to a coordinated national execution architecture. It advocates launching mission-mode BioMissions to accelerate growth in priority sectors, establishing empowered committees to drive cross-ministerial coordination, implementing regulatory reforms to accelerate approvals while ensuring safety and trust and a developing bioscience leadership and talent pipeline. It also proposes the creation of a Rs 50,000 crore BioEconomy Growth Fund to support innovation, infrastructure, commercial scale-up and biomanufacturing.
The report also set out a strategic proposition for India to transition from traditional biological R&D to AI-enabled biotechnology and next-generation biomanufacturing, driven by deeper collaboration across ministries, departments, academia, industry and startups. It noted that India stands at a pivotal moment in the global biological century, with its bioeconomy expanding 16-fold from $10 billion in 2014 to $195.3 billion in 2025, now accounting for 4.8 per cent of the country's GDP.
