India's bioeconomy has expanded nearly twenty-fold — from approximately $10 billion in 2014 to over $190 billion in 2026 — marking one of the sharpest growth trajectories in the country's scientific history, Union Minister of State for Science and Technology and Earth Sciences Dr Jitendra Singh said on Monday, 15 June. Speaking at a press conference in New Delhi themed '12 Years of Transformative Growth in Science, Technology and Innovation', Singh described the expansion as an unprecedented shift in India's innovation landscape.

Bioeconomy Target and Key Drivers

India has set an ambitious target of reaching $300 billion in bioeconomy value by 2030, Singh said. The country has positioned itself as a global biotechnology hub, driven by indigenous breakthroughs in healthcare, genomics, diagnostics, and biopharmaceuticals. Progressive policy frameworks — notably the BioE3 framework — have been instrumental in accelerating this growth, according to the minister.

Healthcare and Advanced Technology Breakthroughs

Singh highlighted India's strides in advanced medical technologies, citing developments in next-generation antibiotics, affordable CAR-T cell therapy, and precision medicine. He noted that Indian researchers are increasingly developing solutions for diseases and disorders of global significance, reinforcing the country's standing in the international scientific community. This comes amid growing global demand for cost-effective healthcare innovations, an area where India's generic pharmaceutical ecosystem provides a structural advantage.

Space, Weather and Strategic Sectors

Beyond biotech, Singh pointed to India's historic Moon landing near the lunar south pole, the rapid expansion of the space startup ecosystem, and revolutionary improvements in weather forecasting as evidence of broader scientific progress. He said indigenous technologies now underpin nearly all major government flagship programmes, reflecting what he described as a successful 'whole-of-government' approach to science and innovation.

Science Reaching Ordinary Citizens

The minister cited steel slag road technology as a concrete example of applied innovation — converting industrial waste into durable road material with lower maintenance costs. He said roads built using this technology have demonstrated superior performance and are seeing wider adoption across India. Singh argued that growing public interest in scientific achievements itself signals how deeply science and technology have penetrated everyday life over the past decade.

What Comes Next

With the $300 billion bioeconomy target set for 2030, the government's emphasis on private-sector engagement and global competitiveness will be critical. Industry observers note that sustaining this growth rate will require continued investment in research infrastructure, talent pipelines, and regulatory frameworks that keep pace with fast-evolving sectors like genomics and synthetic biology.