India’s Bioeconomy Growing Rapidly, Set to Reach $300 Billion by 2030

India has emerged as one of the fastest-growing bioeconomies in the world, expanding from 10 billion dollars in 2014 to 165.7 billion dollars in 2024. Experts say the sector is steadily becoming a cornerstone of the country’s sustainable growth, driven by advances in biotechnology, agriculture, biomanufacturing, and healthcare.

The bioeconomy is divided into four main subsectors: BioIndustrial, BioPharma, BioAgri, and BioResearch. Together, these areas are helping India strengthen its position in the global market and drive innovation at home.

In 2025, India consolidated its position as a leading vaccine manufacturer. According to the WHO Global Vaccine Market Report, the Serum Institute of India’s share of the global vaccine market, excluding Covid-19 vaccines, increased from 19 percent in 2021 to 24 percent in 2023. This growth was driven by higher production of pneumococcal conjugate, measles-rubella, and tetanus-diphtheria vaccines.

India is home to three of the ten major global vaccine manufacturers: Serum Institute, Bharat Biotech, and Biological E. These companies supplied 40 percent of WHO vaccine purchases, with a significant portion used domestically, and about 20 percent of exports went to the WHO African Region.

India has also achieved 20 percent ethanol blending in petrol in 2025, five years ahead of schedule, compared with just 1.5 percent in 2014. This initiative has benefited farmers significantly, providing 1.21 lakh crore rupees for ethanol feedstock between 2014 and June 2025, clearing sugarcane arrears and making maize cultivation more viable. In 2025 alone, payments to farmers are expected to reach 40,000 crore rupees, while foreign exchange savings could total around 43,000 crore rupees. Ethanol blending has already substituted 245 lakh metric tonnes of crude oil and conserved 1.44 lakh crore rupees in foreign exchange, strengthening India’s energy security.

The government approved the first biotechnology policy, called the BioE3 Policy, on August 24, 2024. The policy focuses on high-performance biomanufacturing and introduces the Biomanufacturing and Biofoundry Initiative, aimed at promoting sustainable and regenerative practices in industry.

Experts say the bioeconomy can play a major role in addressing climate change by reducing greenhouse gas emissions, encouraging cleaner farming methods, storing carbon in agriculture, supporting balanced diets, and restoring forests. It also promotes recycling, reduces food waste, supports bioenergy, and encourages greener industrial processes, helping India move toward sustainability while using resources more efficiently.

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