New Delhi, Mar 19 (PTI) India's bioeconomy has expanded from about USD 10 billion in 2014 to more than USD 195 billion in 2025, reflecting a massive growth trajectory over the past decade, Union Minister Jitendra Singh said on Thursday.
Speaking at the 14th foundation day celebrations of the Biotechnology Industry Research Assistance Council (BIRAC), the minister stated that the country's biotechnology sector recorded an annual growth of around 17-18 per cent in the last year alone -- rising from approximately USD 165 billion to USD 195 billion -- marking India's emergence as a major global biotechnology hub.
"Biotechnology is now central to India's future growth story, driving advancements in healthcare, agriculture, climate solutions, and sustainable manufacturing," Singh said.
The Union minister also highlighted the role of BIRAC as a key enabler of India's biotechnology innovation ecosystem.
Established by the Department of Biotechnology (DBT) in 2012, BIRAC is a public sector undertaking (PSU) that aims to strengthen and empower the emerging biotech enterprise.
"BIRAC has played a crucial role in connecting research with industry and enabling the transition of ideas from laboratories into market-ready solutions," Singh said.
The minister added that the BioE3 (Biotechnology for Economy, Environment and Employment) Policy, approved in 2024, would promote innovation in areas such as precision biotherapeutics, smart proteins, climate-resilient agriculture, bio-based chemicals, and carbon capture technologies.