Dr Jitendra releases ‘India Bioeconomy Report’, 16 fold growth in 10 years

By statetimes_editor Last updated Mar 22, 2025

STATE TIMES NEWS

NEW DELHI: India’s bioeconomy has witnessed extraordinary growth over the past decade, expanding 16-fold from less than $10 billion in 2014 to an impressive $165.7 billion in 2024.
Announcing these achievements while releasing the India Bioeconomy Report 2025 (IBER 2025) at the BIRAC Foundation Day ceremony, Union Minister Dr. Jitendra Singh emphasized biotechnology as a cornerstone of India’s future economic growth.

Union Minister Dr. Jitendra Singh speaking after releasing “India Bioeconomy Report 2025” to mark the BIRAC Foundation Day at National Media Centre, New Delhi.

The sector now contributes 4.25% to the GDP, with a compound annual growth rate (CAGR) of 17.9% over the past four years, showcasing India’s emergence as a global biotech powerhouse. This progress far exceeds the initial target of $150 billion set for 2025, reflecting the government’s focused efforts to foster research, innovation, and entrepreneurship in biotechnology.
Dr. Jitendra also unveiled BioSaarthi, a global mentorship program designed to support biotech startups through structured, six-month mentor-mentee engagements. Leveraging expertise from the Indian diaspora, the initiative aims to strengthen industry-academia collaboration and position Indian startups for global success. The Minister credited the BIO-E3 policy-Biotechnology for Economy, Employment, and Environment-as a major driver of this growth, enabling the establishment of initiatives like Bio-AI hubs and bio-enabler hubs to integrate advanced technologies with biomanufacturing.
India’s biotech startup ecosystem has grown exponentially, from 50 startups in 2014 to over 10,075 today. Public-private partnerships and policy-driven support have created an enabling environment for innovation. Remarkable milestones include the development of India’s first indigenous antibiotic, Nafithromycin, and successful gene therapy trials for hemophilia. Additionally, India’s whole genome sequencing project, covering 10,074 individuals, promises to revolutionize precision medicine and healthcare.
Collaborations between the Department of Biotechnology and ISRO mark a significant leap in space biology and medicine, crucial for astronaut health as India prepares for its first space station. With Gross Expenditure on Research and Development (GERD) doubling from Rs 60,196 crore in 2013-14 to Rs 1,27,381 crore in 2024, India is well-positioned to lead the global biotechnology revolution.
Dr. Jitendra hailed the bioeconomy’s progress as transformative, akin to the IT revolution in the West, and called on stakeholders to harness biotechnology as a driver of economic growth and global leadership. As BIRAC celebrates its 13th anniversary, India’s bioeconomy stands poised to redefine the nation’s future.
The event saw the participation of dignitaries such as Dr. Rajesh S. Gokhale, Secretary, Department of Biotechnology and Chairman, BIRAC; Ms. Ekta Vishnoi, Joint Secretary, Department of Biotechnology; Sh. Dhirendra Ojha, Principal Director General, Press Information Bureau; Dr. Jitendra Kumar, Managing Director, BIRAC; and FCA Nidhi Srivastava, Director-Finance, BIRAC.