India's Bioeconomy Expands 16-Fold to $165.7B by 2024

India's bio-economy has experienced an extraordinary 16-fold growth over the past decade, rising from $10 billion in 2014 to $165.7 billion in 2024, according to the 'India Bioeconomy Report 2025' released by Union Minister Dr. Jitendra Singh. This growth, surpassing the initial target of $150 billion, reflects the government's commitment to biotechnology as a cornerstone of economic development, contributing 4.25% to the GDP. The sector has seen a compound annual growth rate of 17.9% over the last four years, showcasing India's potential as a global biotech leader. At the announcement event, Dr. Singh launched the BioSaarthi initiative, designed to mentor biotech startups and enhance innovation through structured guidance and industry-academia collaboration. The report also noted that the number of biotech startups has surged from 50 a decade ago to over 10,075 today, highlighting the sector's rapid expansion. The government aims to further advance the bio-economy by increasing private sector investment and research expenditure, which has more than doubled in the past decade.