ENA Sectors 2026-03-20 13:32:18 <p><span style="font-size:14px"><strong>New Delhi, Mar 20 (KNN)</strong> Indias bioeconomy has expanded sharply from about USD 10 billion in 2014 to over USD 195 billion in 2025, marking a major growth trajectory and positioning the country as a global biotechnology hub, Union Minister of State Jitendra Singh said on Thursday.</span></p> <p><span style="font-size:14px">Addressing the 14th Foundation Day of Biotechnology Industry Research Assistance Council (BIRAC) in New Delhi, the minister noted that the sector recorded an annual growth of around 17-18 percent in the past year, rising from nearly USD 165 billion to USD 195 billion.</span></p> <p><span style="font-size:14px"><strong>Bioeconomy Emerges As Key Growth Driver</strong></span></p> <p><span style="font-size:14px">He highlighted biotechnology as a key driver of Indias future growth, with applications spanning healthcare, agriculture, climate solutions, and sustainable manufacturing. </span></p> <p><span style="font-size:14px">India is now progressing toward its target of a USD 300 billion bioeconomy by 2030, backed by a growing base of scientists, startups, and entrepreneurs.</span></p> <p><span style="font-size:14px">Emphasising BIRACs role, Singh said the organisation has been instrumental in linking research with industry and enabling the commercialisation of innovations. </span></p> <p><span style="font-size:14px"><strong>Policy Push And Innovation Ecosystem Strengthened</strong></span></p> <p><span style="font-size:14px">Highlighting policy initiatives, the minister referred to the BioE3 Policy, Biotechnology for Economy, Environment and Employment, as a major step to strengthen bio-based industries and sustainable manufacturing. </span></p> <p><span style="font-size:14px">The policy aims to promote innovation in areas such as precision biotherapeutics, climate-resilient agriculture, bio-based chemicals, and carbon capture technologies.</span></p> <p><span style="font-size:14px">He also pointed to the Rs 1 lakh crore Research, Development and Innovation (RDI) Fund, under which BIRAC has been assigned a key role in supporting biotech ventures and scaling up advanced technologies.</span></p> <p><span style="font-size:14px"><strong>Sector Growth Backed By Startups And Research</strong></span></p> <p><span style="font-size:14px">During the event, the India Bioeconomy Report 2026 and the BIRAC Impact Report were released. The reports noted that the sector reached USD 195.3 billion in 2025, contributing about 4.8 percent to Indias GDP, with a strong compound annual growth rate of nearly 18 percent. The sector is now supported by over 11,800 biotech startups nationwide.</span></p> <p><span style="font-size:14px">The BIRAC Impact Report highlighted outcomes such as industry-academia collaboration, development of affordable healthcare solutions, sustainable technologies, and job creation through targeted funding, incubation, and mentorship.</span></p> <p><span style="font-size:14px">Singh also underscored the importance of nurturing scientific talent across tier-2 and tier-3 cities, with a focus on supporting students, researchers, and women entrepreneurs to build a nationwide innovation ecosystem.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 45526 https://knnindia.co.in/news/newsdetails/sectors/indias-bioeconomy-has-reached-195-billion-country-emerging-as-global-biotech-hub-jitendra-singh 2026-03-20 13:32:18 knnindia.co.in