India's bio-economy witnesses 16-fold rise: Dr.Jitendra Singh

India's bio-economy has witnessed a remarkable 16-fold rise in 10 years of the past one decade, from $ 10 Billion in 2014 to an impressive $165.7 Billion in 2024, announced the Union Minister Dr. Jitendra Singh while releasing "India Bioeconomy Report 2025" (IBER 2025)  at the BIRAC Foundation Day ceremony in New Delhi on Friday. This exponential growth, he emphasized, is a testament to the government's commitment to fostering biotechnology as a key pillar of India's future economic growth.The report highlighted the progress made by the bioeconomy sector and as per the report, the sector is contributing 4.25% to the overall GDP. The sector has shown a CAGR of 17.9% over the past four years, showcasing India’s potential as a global biotech powerhouse.
Dr Singh noted that India is being recognised globally for its remarkable progress in space and biotechnology. He also reaffirmed the government’s commitment to advancing science, technology, and the bioeconomy.Dr Jitendra Singh highlighted India’s pioneering role in space medicine, making it one of the first countries to engage in this cutting-edge field. He emphasised the Department of Biotechnology’s collaboration with ISRO as a key milestone, underscoring its significance in advancing research and innovation in space medicine. The minister also showcased India’s remarkable biotech achievements, including the success of the COVID-19 vaccine, as well as advancements in TB, malaria, and haemophilia vaccines, further strengthening the nation’s impact in global healthcare. Additionally, he emphasised BioE3’s crucial role in driving biotech innovation and economic growth.

The Minister has also unveiled BioSaarthi, a pioneering global mentorship initiative aimed at nurturing biotech startups. Designed as a six-month cohort, BioSaarthi will facilitate structured mentor-mentee engagements, offering personalized guidance to emerging entrepreneurs in the biotech sector.The Minister pointed out that India's Gross Expenditure on Research and Development (GERD) has more than doubled in the past decade, rising from ₹60,196 crore in 2013-14 to ₹1,27,381 crore in 2024. This surge in funding underscores the government's resolve to bolster scientific research and innovation. "We are witnessing the dawn of a bio-revolution that will be as transformative for India as the IT revolution was for the West. With sustained efforts, India is not just participating in the global biotechnology revolution—we are leading it," Dr. Jitendra Singh affirmed.