How Did India’s Bioeconomy Surge from $10 Billion to $165.7 Billion in Just 10 Years?
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Synopsis
India's bioeconomy has skyrocketed in the past decade, escalating from $10 billion to an impressive $165.7 billion by 2024. As the nation sets its sights on a $300 billion goal by 2030, discover the innovations driving this growth and the impact on sustainability and healthcare.
Key Takeaways
- India's bioeconomy grew from $10 billion to $165.7 billion in ten years.
- Aim to reach $300 billion by 2030.
- Major sectors include BioIndustrial, BioPharma, BioAgri, and BioResearch.
- India is a top vaccine manufacturer globally.
- Ethanol blending has significant economic and environmental benefits.
New Delhi, Sep 5 (NationPress) In the last decade, India has quickly established itself as a leader in the global bioeconomy, witnessing a remarkable growth from $10 billion in 2014 to $165.7 billion in 2024. Aiming for $300 billion by 2030, the bioeconomy is becoming a vital aspect of India's sustainable development and innovation, fueled by breakthroughs in biotechnology, agricultural advancements, biomanufacturing, and healthcare.
The bioeconomy encompasses four main subsectors: BioIndustrial (47%), BioPharma (35%), BioAgri (8%), and BioResearch (9%), as per official statistics.
By 2025, India achieved significant milestones in biotechnology, solidifying its role as a leading vaccine producer. The WHO Global Vaccine Market Report indicates that the Serum Institute of India increased its share of the global vaccine market, excluding Covid-19 vaccines, from 19% in 2021 to 24% in 2024, due to enhanced production of pneumococcal conjugate vaccine (PCV), measles-rubella (MR), and tetanus-diphtheria (Td) vaccines.
The global vaccine market is highly dominated by a few manufacturers, with only 10 supplying over 80% of vaccines. Among these, three—Serum Institute, Bharat Biotech, and Biological E—are Indian companies. Indian manufacturers contributed 40% of the WHO’s vaccine procurements, with a considerable portion used domestically. About 20% of India’s vaccine exports were directed to the WHO African Region.
India has also achieved a 20% ethanol blending (E20) in petrol by 2025, ahead of its initial timeline. This marks a significant rise from just 1.5% in 2014, showcasing the nation's commitment to developing a sustainable bioeconomy. The initiative has resulted in numerous benefits, including increased incomes for farmers, who earned Rs 1,21,000 crore for ethanol feedstock between Ethanol Supply Year (ESY) 2014–15 and June 2025, aiding in eliminating sugarcane arrears and enhancing maize cultivation viability.
With 20% blending, it is anticipated that farmer payments this year alone will reach Rs 40,000 crore, while foreign exchange savings are estimated at Rs 43,000 crore.
By July 2025, ethanol blending replaced 245 lakh metric tonnes of crude oil and conserved Rs 1,44,087 crore in foreign currency, significantly bolstering energy security.
This achievement highlights ethanol blending's role in merging energy, agriculture, and sustainability, thereby enhancing India’s bioeconomy.
On August 24, 2024, the Union Cabinet approved the Department of Biotechnology's (DBT) proposal for India’s inaugural biotechnology policy, the BioE3 Policy (Biotechnology for Economy, Environment, and Employment). This policy emphasizes promoting high-performance biomanufacturing and establishes a framework for the Biomanufacturing and Biofoundry Initiative. This effort aims to encourage green growth by transitioning from consumptive manufacturing to sustainable practices.
The bioeconomy harbors significant potential to combat climate change by diminishing greenhouse gas emissions and advocating sustainable methodologies. It fosters cleaner agricultural practices, carbon storage in farming, balanced diets, and forest restoration. Concurrently, it promotes recycling, cuts food waste, enhances bioenergy use, and supports greener industrial operations. By integrating these strategies, the bioeconomy aids in lowering emissions while advancing sustainability and resource efficiency.
Point of View
It is clear that India's bioeconomy exemplifies a remarkable journey of innovation and growth. The government's strategic initiatives and private sector advancements are setting a strong foundation for sustainable development and global leadership in biotechnology, agriculture, and healthcare. This progress not only addresses pressing economic needs but also emphasizes climate action and resource efficiency.
NationPress
05/09/2025
Frequently Asked Questions
What fueled the growth of India’s bioeconomy?
The growth of India's bioeconomy has been driven by advancements in biotechnology, agricultural innovation, biomanufacturing, and healthcare, along with strategic government initiatives.
How has India positioned itself in the global vaccine market?
India is now one of the top vaccine manufacturers globally, with a significant share of the market, mainly driven by companies like the Serum Institute of India.
What are the benefits of ethanol blending in fuel?
Ethanol blending has enhanced incomes for farmers, reduced dependency on crude oil, and contributed to significant foreign exchange savings while promoting sustainability.
What is the BioE3 Policy?
The BioE3 Policy aims to enhance high-performance biomanufacturing and outlines a framework for sustainable practices in biotechnology, emphasizing economic, environmental, and employment benefits.
What potential does the bioeconomy have for environmental impact?
The bioeconomy has the potential to mitigate climate change by reducing greenhouse gas emissions, promoting sustainable farming, and enhancing resource efficiency.
