India’s Bioeconomy Grows Fast, Aiming for $300 Billion by 2030
India has become one of the world’s fastest-growing bioeconomies, showing impressive progress over the past decade. From just $10 billion in 2014, the bioeconomy now stands at $165.7 billion in 2024. Experts believe it could reach $300 billion by 2030, making it a crucial part of India’s sustainable development and innovation in health, agriculture, and manufacturing.
The country’s bioeconomy is made up of four main sectors: BioIndustrial (47%), BioPharma (35%), BioAgri (8%), and BioResearch (9%). These sectors include everything from medicines and vaccines to farming and research.
India has achieved some major milestones in biotech in 2025. Notably, it has strengthened its position as a top vaccine producer. According to the WHO, the Serum Institute of India increased its share of the global vaccine market (excluding COVID-19 vaccines) from 19% in 2021 to 24% in 2024. The company ramped up production of key vaccines like pneumococcal conjugate vaccine (PCV), measles-rubella, and tetanus-diphtheria vaccines.
Indian vaccine firms now supply around 40% of the World Health Organization’s (WHO) vaccines. About 20% of these vaccines are exported to the African region, highlighting India’s vital role in global vaccine supply. Notably, Serum Institute, Bharat Biotech, and Biological E are among the top vaccine producers worldwide.
India has also made big progress in BioE3, its first dedicated biotechnology policy approved in August 2024. This policy aims to boost high-tech manufacturing, promote green and sustainable biotech practices, and create jobs. It encourages shifting from traditional, resource-heavy production to environmentally friendly, regenerative methods.
Another major achievement is India’s ethanol blending success. By 2025, the country reached 20% ethanol in petrol (E20), five years ahead of schedule. This initiative started with just 1.5% in 2014. Ethanol blending helps reduce the dependency on imported oil, saves foreign exchange, and benefits farmers. Between 2014 and June 2025, farmers received over Rs 1.21 lakh crore from ethanol feedstocks, helping clear sugarcane debts and encouraging maize farming.
This year alone, India’s ethanol blending has replaced about 2.45 million tonnes of crude oil, saving roughly Rs 43,000 crore in foreign exchange. The program has also contributed to energy security, with ethanol substitution conserving over Rs 1.44 lakh crore in imports.
India’s focus on bioeconomy development is also helping fight climate change. By adopting cleaner farming methods, promoting bioenergy, recycling waste, and restoring forests, India is working towards a greener, more sustainable future. These efforts aim to cut greenhouse gas emissions, reduce pollution, and grow a resilient economy that benefits both people and the planet.
Overall, India’s biotech and bioeconomy sectors are set to play a key role in building a healthier, greener, and more sustainable future for the nation and the world.
