24 March2025, Bengaluru: South India has solidified its position as the frontrunner in India’s bioeconomy, contributing a substantial 45.4% share, valued at $75.2 billion in 2024. The western region follows closely with $50.02 billion (30.3%), according to an industry report.
Maharashtra, Karnataka, and Telangana have emerged as the key biotech hubs, collectively accounting for 38.8% of the national total. This surge in bioeconomy growth is attributed to robust infrastructure, skilled talent pools, and favorable conditions for biotech innovation.
“This concentration suggests that these states have a conducive ecosystem for biotechnology advancement. Factors such as strong infrastructure, access to funding, and a highly skilled workforce have played a crucial role in their rise as biotech hubs,” the report stated.
State-wise Contributions to Bioeconomy
According to the report, Maharashtra led the state-wise contribution with $35.45 billion, followed by Karnataka at $32.4 billion and Telangana at $19.9 billion. Gujarat, Andhra Pradesh, Tamil Nadu, and Uttar Pradesh also played significant roles, while other states collectively contributed $36.4 billion.
- Maharashtra: $35.45 billion
- Karnataka: $32.4 billion
- Telangana: $19.9 billion
- Gujarat: $12.9 billion
- Andhra Pradesh: $11.1 billion
- Tamil Nadu: $9.9 billion
- Uttar Pradesh: $7.7 billion
- Others: $36.4 billion
The bio-industrial segment, followed by biopharma, remained the top contributor to India’s bioeconomy, which has reached $165.7 billion in 2024. Over the past decade, this sector has witnessed a staggering 16-fold growth.
Rise of Biotech Startups
The biotech sector in India is experiencing unprecedented growth, with the number of biotech startups doubling in 2024 to reach 10,075. However, the report noted a decline of over 13% in new startup registrations, with 1,544 firms registering in 2024 compared to 1,776 in 2023.
Despite this dip in new registrations, the overall growth of biotech startups signals a promising future for India’s bioeconomy, particularly in bio-manufacturing, agribiotech, and health sciences.
Government Push & Industry Collaboration
Earlier this week, Union Science and Technology Minister Jitendra Singh emphasized the need for greater private-sector investments in bioeconomy.
“We are witnessing the dawn of a bio-revolution that will be as transformative for India as the IT revolution was for the West. With sustained efforts, India is not just participating in the global biotechnology revolution—we are leading it,” Singh stated at the launch of Bio Saarthi, a global mentorship initiative.
Experts believe that stronger collaboration between industry, academia, and policymakers will be crucial in propelling India into a global bio-industrial hub. GS Krishnan, Honorary President of the Association of Biotechnology Led Enterprises, stated,
“With advancements in bio-manufacturing, agribiotech, and health sciences, India is well-positioned to achieve its ambitious bioeconomy targets. The sector is unlocking new opportunities for startups, researchers, and industries alike.”
Bioeconomy’s Contribution to GDP & Future Projections
Currently, India’s bioeconomy contributes 4.25% to the country’s GDP, with strong growth in biotechnology, agricultural innovation, biomanufacturing, and healthcare sectors.
Looking ahead, the sector is projected to reach $300 billion by 2030, growing at a compound annual growth rate (CAGR) of 12.3%. This ambitious expansion underscores the sector’s role in shaping India’s economic and technological future.
India’s biotechnology sector is experiencing remarkable growth, with South India leading the charge. Maharashtra, Karnataka, and Telangana have emerged as dominant players, fostering innovation and investment in biotechnology. As the government and industry stakeholders push for greater private-sector participation, India’s bioeconomy is on a clear path to becoming a global leader.
With sustained efforts, strong policy support, and innovation-driven initiatives, India’s biotech sector is poised for transformative growth in the coming years.
Source: The Economic Times
