By TIOL News Service

NEW DELHI, MAR 22, 2025: INDIA'S bio-economy has witnessed a remarkable 16-fold rise in 10 years of the past one decade, from USD 10 Billion in 2014 to an impressive USD165.7 Billion in 2024, announced the Union Minister Dr. Jitendra Singh while releasing "India Bioeconomy Report 2025" (IBER 2025)  at the BIRAC Foundation Day ceremony at the National Media Centre here yesterday.

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.

"In just 10 years, India's bio-economy has expanded from a modest USD10 billion to USD165.7 billion, far surpassing our initial target of USD150 billion by 2025," Dr. Jitendra Singh stated quoting IBER 2025. 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.

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.

Speaking at the event, Dr. Jitendra Singh emphasized that this initiative will strengthen India's biotech ecosystem by fostering innovation, enhancing industry-academia collaboration, and positioning Indian startups for global success. The initiative would engage overseas experts, particularly from Indian diaspora as international mentors who would volunteer to give back to the society.

The Minister underscored the role of the Modi government's policies in driving this transformation. He highlighted the recently approved BIO-E3 Policy-Biotechnology for Economy, Employment, and Environment-which aims to accelerate research, innovation, and entrepreneurship in the sector.

Under this policy, initiatives such as Bio-AI Hubs, Bio foundries, and bio-enabler hubs will be set up to integrate advanced technologies with biomanufacturing. Dr. Jitendra Singh also announced that Assam has become the first state to adopt the BioE3 framework, marking a significant step toward pan-India implementation.

In a major push for innovation, India's biotech startup ecosystem has grown from just 50 startups a decade ago to over 10,075 today. The Minister lauded this tenfold increase, crediting public-private partnerships and a policy-driven approach for creating an enabling environment.

Dr. Jitendra Singh further highlighted groundbreaking achievements in the sector, including the development of India's first indigenous antibiotic, Nafithromycin, effective in treating respiratory diseases, and a successful gene therapy trial for hemophilia. He also emphasized the significance of India's whole genome sequencing project, covering 10,074 individuals across 99 communities, which is expected to revolutionize precision medicine and healthcare in the country.

Another landmark development is the collaboration between the Department of Biotechnology and the Indian Space Research Organization (ISRO), paving the way for space biology and Space Medicine research. "As India prepares for its first space station, biotechnology will play a crucial role in ensuring astronaut health and developing futuristic medical solutions," he noted.

The Minister pointed out that India's Gross Expenditure on Research and Development (GERD) has more than doubled in the past decade, rising from Rs.60,196 crore in 2013-14 to Rs.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.

The event saw the participation of dignitaries such as Dr. Rajesh S. Gokhale, Secretary, Department of Biotechnology and Chairman, BIRAC; Ekta Vishnoi, Joint Secretary, Department of Biotechnology; Dhirendra Ojha, Principal Director General, Press Information Bureau; Dr. Jitendra Kumar, Managing Director, BIRAC; and FCA Nidhi Srivastava, Director-Finance, BIRAC.

As BIRAC marks its 13th anniversary, the Minister called upon industry leaders, researchers, and policymakers to seize the opportunities ahead and ensure that biotechnology becomes a key driver of India's economic growth and global standing in the years to come.