Biotechnology to power next industrial revolution; India targets Rs. 90.86 lakh crore (US$ 1 trillion) bioeconomy by 2047
- IBEF
- February 26, 2026
India is now projecting biotechnology as one of the key driving forces for the coming industrialization, with the target of developing a Rs. 90.86 lakh crore (US$ 1 trillion) bioeconomy by 2047. This was announced by Union Minister Mr. Jitendra Singh during the Department of Biotechnology (DBT) 40th Foundation Day celebration in New Delhi. The address highlighted the meteoric rise of the sector. India’s bioeconomy stands at Rs. 13.87 lakh crore (US$ 165.7 billion) in 2024 from Rs. 6.10 lakh crore (US$ 10 billion) in 2014, driven by policy reforms, higher research investment, and a sharp increase in startup activity. Biotech startups have literally exploded from fewer than 100 in 2014 to over 11,000 at present, indicating strong growth in innovation and industry participation. The statement further emphasised the launch of SUJVIKA, an AI-driven biotech product information portal aimed at providing structured trade intelligence to facilitate evidence-based planning for industry and researchers alike.
The integrated BioE3 Policy of India aims to promote biotechnology for economic development, environmental sustainability, and employment generation. It is further supported by entities such as DBT, BIRAC, and BRIC to develop and enhance local capabilities and the bio-industrial ecosystem. Infrastructure development includes the establishment of the National Biofoundry Network, 95 bio-incubators in 21 states and union territories, and advanced research facilities that are now fuelling innovation and scaling biotech startups. A countrywide research effort includes a Rs. 2,000 crore (US$ 220.10 million) funding challenge within the overall Rs. 1 lakh crore (US$ 11.01 billion) Research, Development, and Innovation program. Advancements in pioneering areas such as space biotechnology, genome sequencing through the GenomeIndia Project, and gene therapy trials are now expanding the scope of Indian scientific endeavours and establishing the country as a global biotech capital.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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