Quote to Remember:
“Biotech is not just science—it’s the foundation for an inclusive, sustainable and innovation-driven future economy.”
Definition and Scope of Bioeconomy
Bioeconomy refers to the industrial use of biological resources (plants, animals, and microorganisms), including the use of bio-based processes and bio-manufacturing, for the production of goods, services, and energy.
It spans sectors such as:
- Agriculture
- Healthcare
- Pharmaceuticals
- Industrial biotechnology
- Environment
Current Status of India’s Bioeconomy
- Value in 2024: USD 165.7 billion (4.2% of GDP)
- Growth: Nearly doubled since 2020 (USD 86 billion)
- Projected Value:
- USD 300 billion by 2030
- USD 1 trillion by 2047
- Bioeconomy Startups: From 5,365 in 2021 to 10,051 in 2024
Top Contributing States (2024)
| State | Total Value (in $ bn) | Share of Total |
|---|---|---|
| Maharashtra | 35.45 | 21.4% |
| Karnataka | 25.45 | 15.4% |
| Telangana | 19.9 | 12% |
| Gujarat | 12.5 | 7.6% |
| Andhra Pradesh | 11.1 | 6.7% |
| Tamil Nadu | 8.3 | 5.0% |
| Uttar Pradesh | 7.7 | 4.6% |
Key Sectors and Innovations
- Bio-manufacturing: Replacing petroleum-derived materials with biodegradable inputs in clothes, plastics, chemicals, and packaging.
- Medical Biotechnology: Development of diagnostics, DNA-based therapeutics, and vaccines.
- Industrial Biotech: Biochemicals, enzymes, and precision fermentation.
- Agriculture: Climate-resilient crops, biofertilizers, and genetically modified inputs.
Challenges to Growth
- Infrastructure bottlenecks
- Funding and access to venture capital
- Regulatory delays, especially in commercialisation of biotech products
- Regional imbalance – 5 states contribute over 60% of the total value
Government Push and Policy Interventions
- BioE2: Biotechnology for Economy, Environment and Employment – aims to double bioeconomy’s value by 2030 and make India a global R&D hub.
- National BioEconomy Mission (in the pipeline)
- Emphasis on:
- Scaling-up lab discoveries
- Developing regulatory and bioethical frameworks
- Supporting precision agriculture, healthcare, and energy
Way Forward
- Promote biotech startups, encourage foreign direct investment and public-private partnerships
- Improve access to capital, create regional biotech clusters
- Establish single-window regulatory mechanisms
- Incentivise sustainable, bio-based innovations aligned with climate and employment goals
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