growth of the bioeconomy

BIOTECHNOLOGY ECOSYTEM NEEDS TO BE REDEFINED

India’s biotechnology industry has grown rapidly, expanding from a small startup base in 2014 to over 10,000 firms by 2025 and reaching a bioeconomy value of USD 165.7 billion. Supported by initiatives like BIRAC, DBT, and the BioE3 Policy, the sector drives innovation in vaccines, genomics, and bio-manufacturing. However, it faces challenges such as funding shortages, fragmented infrastructure, and outdated regulations. With strategic reforms, investment in R&D, and global partnerships, India aims to achieve a USD 300 billion bioeconomy by 2030 and emerge as a global leader in biotechnology.