India's Bioeconomy: A Decade of Transformative Growth and Sustainable Innovation from $10 bn to $165.7 bn

India’s bioeconomy has grown from 10billionin2014to10 billion in 2014 to 10billionin2014to165.7 billion in 2024, with a $300 billion target by 2030. Key sectors include BioIndustrial, BioPharma, BioAgri, and BioResearch. India leads in vaccine production, achieving 20% ethanol blending ahead of schedule, boosting farmer incomes, energy security, and sustainability. The BioE3 Policy promotes green growth and regenerative practices, positioning India as a global leader in biotechnology and climate action for a sustainable future.

India's bioeconomy has seen remarkable growth over the past decade, establishing itself as a global leader in sustainable innovation. From a modest $10 billion in 2014, the sector has expanded to an impressive $165.7 billion in 2024, with an ambitious target of reaching $300 billion by 2030. This rapid ascent underscores the nation's commitment to leveraging biotechnology, agricultural advancements, biomanufacturing, and healthcare to drive sustainable development.

Key Pillars of India's Bioeconomy

India’s bioeconomy is supported by four major subsectors:

• BioIndustrial: Contributing the largest share at 47%, this subsector focuses on industrial biotechnology and renewable resources.

• BioPharma: Accounting for 35%, this segment leads in pharmaceutical innovations and vaccine production.

• BioAgri: Representing 8%, agricultural biotechnology plays a crucial role in improving crop yields and farming sustainability.

• BioResearch: With a 9% share, this segment fosters cutting-edge research and development across life sciences.

These pillars collectively ensure the bioeconomy’s robust and sustainable growth, making it a cornerstone of India’s economic and environmental strategies.

Vaccine Manufacturing: A Global Success Story

India has solidified its position as a global leader in vaccine production, achieving significant milestones in 2025. According to the WHO Global Vaccine Market Report, the Serum Institute of India increased its share in the global vaccine market (excluding Covid-19 vaccines) from 19% in 2021 to 24% in 2023. This growth was fueled by higher production of vaccines such as pneumococcal conjugate (PCV), measles-rubella (MR), and tetanus-diphtheria (Td).

The global vaccine market is highly concentrated, with 80% of vaccines supplied by just 10 manufacturers. Among them, three Indian firms—Serum Institute, Bharat Biotech, and Biological E—stand out, collectively supplying 40% of the WHO’s vaccine purchases. While much of this production serves domestic needs, around 20% of India’s vaccine exports are directed to the WHO African Region, strengthening global healthcare access.

Ethanol Blending: A Milestone in Sustainability

India reached a significant milestone in 2025 by achieving 20% ethanol blending (E20) in petrol, five years ahead of its original target. This is a dramatic increase from just 1.5% in 2014 and highlights the country’s strides toward sustainable energy.

The ethanol blending program has delivered multiple benefits:

• Farmers’ Prosperity: Between 2014-15 and June 2025, farmers earned ₹1.21 lakh crore for ethanol feedstock, eliminating sugarcane arrears and enhancing the viability of maize cultivation. Payments for ethanol feedstock in 2025 alone are estimated to be ₹40,000 crore.

• Energy Security: Ethanol blending has substituted 245 lakh metric tonnes of crude oil, saving ₹1.44 lakh crore in foreign exchange.

• Environmental Gains: The program has significantly reduced greenhouse gas emissions, bolstering India’s commitment to climate change mitigation.

This initiative exemplifies how energy, agriculture, and sustainability can converge to drive economic and environmental benefits.

India’s First Biotechnology Policy: BioE3

In a landmark decision, the Union Cabinet approved the BioE3 Policy (Biotechnology for Economy, Environment, and Employment) in August 2024. This policy, spearheaded by the Department of Biotechnology (DBT), aims to foster high-performance biomanufacturing and promote green growth.

At the heart of this initiative is the Biomanufacturing and Biofoundry Initiative, which seeks to transition from resource-intensive manufacturing to regenerative and sustainable practices. The policy underscores the role of biotechnology in driving economic growth while addressing environmental challenges.

The Bioeconomy’s Role in Climate Action

India’s bioeconomy is poised to play a pivotal role in combating climate change. By adopting sustainable practices, it offers solutions such as cleaner farming methods, carbon storage in agriculture, forest restoration, and balanced diets. Additionally, it promotes recycling, reduces food waste, and advances greener industrial processes.

These efforts not only lower greenhouse gas emissions but also enhance resource efficiency and sustainability, aligning with global climate goals.

A Vision for 2030

As India marches towards its $300 billion bioeconomy target by 2030, the sector continues to demonstrate its potential to drive economic growth, enhance energy security, and address environmental challenges. By integrating innovation, sustainability, and inclusivity, India’s bioeconomy is setting a global benchmark for sustainable development.

This transformative journey underscores the vital role of biotechnology in shaping a greener, healthier, and more prosperous future for all.