India Sets Ambitious $300 Billion Target for Bioeconomy by 2030

India has reaffirmed its commitment to grow its bioeconomy to $300 billion by 2030. The initiative, marked by sustained policy efforts, rapid startup expansion and key infrastructure plans, aims to harness biological resources for sustainable development while fostering rural employment and green jobs.

Bioeconomy Growth of $300 billion goal by 2030 

Union Minister for Science and Technology Jitendra Singh highlighted that India’s biotechnology ecosystem has scaled impressively from around 50 startups a decade ago to nearly 11,000 today. The foundation for this growth lies in strong policy support and valuable institutional partnerships. In 2024, India’s bioeconomy was estimated at $165.7 billion, reflecting robust momentum toward the $300 billion goal by 2030.

BioE3 Policy Drives Biomanufacturing Vision

The government’s recently introduced BioE3 Policy is shaping India’s pathway toward sustainable industrial transformation. It focuses on the development and commercialisation of bio-based technologies through the creation of dedicated infrastructure such as bioartificial intelligence (Bio-AI) hubs, bio foundries and biomanufacturing centres. These facilities are designed to power innovation, enabling large-scale production of eco-friendly bioproducts across sectors.

Bioproduct Expansion Reaching Lives and Livelihoods

The applications of bioproducts are diversifying beyond research labs to real-world use—ranging from biodegradable packaging to sustainable cosmetics. These are not only environment-friendly alternatives but also catalysts for green employment, especially in rural India. According to Singh, the bioeconomy revolution could lead the next industrial paradigm shift, with India positioning itself at the forefront.

Read More: India Pledges Additional ₹10,000 Crore for Deep Tech Growth!

Traditional Knowledge and Talent to Play Vital Roles

Highlighting gaps in past policy orientation, particularly in agriculture, Singh emphasised a shift towards leveraging India’s rich biodiversity and traditional wisdom. He also acknowledged the challenges faced by young scholars in biotechnology and praised the National Education Policy (NEP) 2020 for fostering flexibility and aptitude-based career paths.

Conclusion

India’s bioeconomy is poised for transformative growth, with ambitious targets, supportive policy frameworks and a booming startup ecosystem. The focus on sustainable innovation, green technology and inclusive development aims to establish India as a bioeconomic leader by 2030.

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