India’s biotechnology sector has grown exponentially, with startups increasing from 50 in 2014 to nearly 9,000 in 2024. Dominated by biopharma, which contributes 49% of the bioeconomy, the sector’s value has surged from US$ 10 billion to over US$ 130 billion in a decade, with a target of US$ 300 billion by 2030.
India’s biotechnology sector has experienced remarkable growth, transforming into a global leader in the field. The number of biotech startups has surged from just 50 in 2014 to nearly 9,000 in 2024, reflecting the sector’s dynamic evolution. Union Minister Jitendra Singh, addressing the FE Green Sarathi summit, highlighted the bioeconomy’s significant expansion, growing from US$ 10 billion in 2014 to over US$ 130 billion in 2024, with ambitious projections to reach US$ 300 billion by 2030.
Biopharma continues to dominate the Indian bioeconomy, contributing 49% of its value and an estimated US$ 39.4 billion to the overall economy. India’s status as a biotech hub is reinforced by its ranking among the top 12 global destinations for biotechnology. The country boasts 665 FDA-approved plants in the United States, more than 1,400 WHO-compliant manufacturing facilities, and a 44% share of the world’s abbreviated new drug applications (ANDA). Additionally, India is the world’s second-largest producer of BT cotton and the third-largest producer of recombinant Hepatitis B vaccine.
The Indian biologics market is forecasted to reach US$ 12 billion by 2025, growing at a robust CAGR of 22%. This growth is supported by favorable government policies, including 100% FDI under the automatic route for greenfield pharmaceuticals and medical device manufacturing. These initiatives have created a thriving ecosystem for innovation and investment in the biotechnology sector.
Minister Singh also emphasized the government’s commitment to sustainability, citing initiatives such as the green hydrogen mission, climate change mission, and the launch of the deep sea mission. “We are among the first in the world to launch such a mission,” he stated, highlighting its role in addressing biodiversity and resource management. Singh pointed out that India’s resource-rich coastal areas, brimming with biodiversity, minerals, and metals, could significantly bolster its economic growth and support its ambition to become the third-largest global economy.
India’s progress in sustainability extends beyond initiatives. The country is actively setting global benchmarks with ambitious targets, such as achieving net zero emissions by 2070, announced by Prime Minister Narendra Modi at COP-26 in 2021. Singh noted that India, once seen as indifferent to environmental concerns, has emerged as a leader in setting and meeting climate goals.
India’s proactive approach to biotechnology is further evident in the recently introduced BioE3 policy. “We are among the first in the world to have very recently come up with a biotechnology policy which is primarily aimed at enhancing bioeconomy and also the cellular economy,” Singh remarked. The policy is expected to provide a robust framework for driving innovation, fostering growth, and establishing India as a global leader in biotechnology.
With a strong foundation, ambitious targets, and supportive policies, India’s biotechnology sector is poised to play a pivotal role in shaping the country’s economic and sustainable future.
