New policies like Bio-E3 and Bio-RIDE aim to boost India’s biotech sector beyond vaccines and pharma
India’s bioeconomy grew from $10 billion in 2014 to $165.7 billion in 2024
Target: $300 billion by 2030
Biotech startups rose from 4,237 (2020) to 10,075 (2024)
Top areas: biofuels, therapeutics, Bt cotton, bioinformatics
Biotech enables low-carbon growth. Duty cuts in 2024 eased imports of key lab chemicals
Activity is concentrated in 10 states
Workforce must triple to 10 million by 2030
More R&D and private investment
Single-window clearance
Push for AI-biotech, gene therapy, and synthetic biology