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India's bioeconomy grows nearly 20-fold in a decade, eyes $300 billion by 2030

· 5 min read·Source: The Hindu
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Union Minister Jitendra Singh said India's bioeconomy has grown nearly 20-fold over the past decade, expanding from about $10 billion in 2014 to roughly $165-200 billion in 2024-25, and now contributes more than 4% of the country's GDP. He said the government aims to grow the bioeconomy to $300 billion by 2030, driven by the BioE3 (Biotechnology for Economy, Environment and Employment) policy approved in 2024. The minister highlighted that the number of biotech startups in India has multiplied sharply, and that sectors such as biopharmaceuticals, bio-agriculture, bio-industrial applications and bio-energy are powering this growth. He positioned biotechnology as a key pillar of India's transition toward a knowledge- and innovation-led economy, aligning with the broader vision of a developed India, or Viksit Bharat, by 2047.

Key Facts & Details

8 points
  • 1
    Jitendra Singh said India's bioeconomy grew nearly 20-fold in a decade, to about $165-200 billion.
  • 2
    It expanded from roughly $10 billion in 2014 and now contributes over 4% of GDP.
  • 3
    The target is to reach $300 billion by 2030.
  • 4
    Growth is driven by the BioE3 policy (Biotechnology for Economy, Environment and Employment).
  • 5
    Biotech startups have multiplied sharply across biopharma, bio-agri, bio-industrial and bio-energy.

Deep Dive

  • +
    The bioeconomy spans biopharmaceuticals, bio-agriculture, bio-industrial and bio-energy segments.
  • +
    Biotechnology is positioned as a pillar of a knowledge- and innovation-led economy.
  • +
    The push aligns with the Viksit Bharat 2047 vision.
Q

Exam Focus

What is India's bioeconomy target for 2030, as stated by Jitendra Singh in June 2026?

Related Topics

BioeconomyBioE3 PolicyBiotechnologyJitendra Singh

Exam Relevance & Angle

Bioeconomy figures, sectoral GDP-share data and the BioE3 policy are increasingly tested Science & Technology and economy items, and the 20-fold growth, the $300 billion 2030 target and the responsible minister are exactly the facts examiners use in General Awareness questions.

Target Exams

SBI POIBPS POIBPS RRB OfficerRBI Grade BNABARD Grade ASSC CGLSSC CHSLRRB NTPCLIC AAOUPSC CSEState PCS

Background & Context

The bioeconomy refers to the share of economic activity derived from biological resources, biotechnology and bio-based products, spanning biopharmaceuticals, bio-agriculture, bio-industrial processes and bio-energy. Dr Jitendra Singh is the Union Minister handling the Ministry of Science and Technology and the Department of Biotechnology. To accelerate this sector, the government approved the BioE3 (Biotechnology for Economy, Environment and Employment) policy in 2024, which promotes high-performance biomanufacturing, bio-based products and a circular bioeconomy, while supporting biotech startups and innovation. India has emerged as a significant global player in vaccines and biopharmaceuticals, and the rapid growth of the bioeconomy is tied to rising research investment, a large pool of skilled scientists and a fast-expanding startup ecosystem. Lifting the sector's contribution further is part of India's strategy to build a knowledge-driven economy and achieve developed-nation status, Viksit Bharat, by 2047.

Related GK Concepts

Must Know
BioeconomyBioE3 policyDepartment of BiotechnologyBiotech startupsViksit Bharat 2047

Test Yourself

1 / 2

India's bioeconomy target for 2030, as stated in June 2026, is:

Source

The Hindu

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India's bioeconomy grows nearly 20-fold in a decade, eyes $300 billion by 2030 — Current Affairs 2026-06-12