India aspires to be $300 bn bio-economy by 2030: Jitendra Singh

Union Minister for Science & Technology, Dr. Jitendra Singh, has remarked that India is looking to become $300 billion bio-economy by the end of this decade to become a leader in the sector globally. The Minister said this during the nationwide celebration of World Bioproduct Day.

Jitendra Singh emphasized his government’s strategic focus on making biotechnology a central pillar of India’s economic growth, job creation and environmental sustainability. He credited robust policy backing and strong institutional collaboration for the sector’s dramatic rise—from just 50 biotech startups a decade ago to nearly 11,000 today.

He stated, “Biotechnology is no longer restricted to research labs. It now plays a vital role in creating livelihoods, generating rural employment, and driving green jobs. We are gearing up for a new industrial revolution led by the bioeconomy.” He said that every citizen has a role to play in this transformation towards bioeconomy.

He also stressed the importance of sustained industry participation and early-stage funding support to ensure long-term success of biotech startups. The Minister said that starting a startup is easy but the real challenge is to keep it going. He was also highlighting the government’s commitment to reinforcing the ecosystem through the newly introduced BioE3 Policy.

The BioE3 Policy aims to align India’s bioeconomy ambitions with ecological sustainability and industrial growth. It promotes the expansion of biomanufacturing and seeks to blend India’s traditional knowledge systems with cutting-edge scientific research.

“Our biodiversity and natural resources attract researchers from around the world. It’s time we learn to value and utilize them for our own innovation,” Singh noted, alluding to past policy gaps that failed to capitalize on India’s rich bio-assets.

The bioeconomy of the country has risen steeply from mere $10 billion in 2014 to more than $165 billion in 2024.