India Bioeconomy:
The India BioEconomy Report 2024, released by the Department of Biotechnology, highlighted that India’s bioeconomy crossed $165 billion, contributing 4.2% of GDP. It charts a roadmap to reach $300 billion by 2030 and $1 trillion by 2047.
- Bioeconomy doubled from $86 billion (2020) to $165 billion (2024), with projections of $1 trillion by 2047.
- Industrial & Pharma Dominance: 48% value came from industrial bioeconomy (biofuels, bioplastics); 35% from pharma, majorly vaccines.
- Number of companies grew from 5,365 in 2021 to 10,075 in 2024, expected to double again by 2030.
- Projected to generate 35 million jobs by 2030 through biotech research, IT, and bio-manufacturing.
- 5 states (MH, KA, TG, GJ, AP) contribute two-thirds of total value; NE and Eastern India underperform (<6%).
- Research & IT—including bioinformatics, clinical trials, and biotech software—is seeing the highest annual growth.
BioSaarthi Mentorship Initiative:
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- Union Minister unveiled the BioSaarthi Mentorship Initiative at the 13th Foundation Day of BIRAC, highlighting India’s rapid rise in the global bioeconomy. A structured global mentorship program aimed at nurturing India’s emerging biotech startups through expert guidance and capacity building. Ministry of Science and Technology, Government of India. Implementing Agency: Biotechnology Industry Research Assistance Council (BIRAC) under the Department of Biotechnology (DBT). Objective is To strengthen India’s biotechnology ecosystem by supporting startups, fostering innovation, and promoting global competitiveness through mentorship.
