India Bio Economy Report 2024

Current Context: India’s bioeconomy reached $165 billion in 2024, contributing 4.2% to GDP, with projections of $300 billion by 2030 and $1 trillion by 2047.

• Key Facts
  • Definition: Bioeconomy involves using biological resources and natural processes to produce sustainable goods and services.
  • Growth: Bioeconomy doubled since 2020 ($86 billion to $165 billion); over 10,000 companies (90% increase).
• Sector Contributions:

1. 1. Industrial: Nearly half the value of the bioeconomy (roughly $78 billion) was generated in the industrial sector.
   2. Pharmaceuticals: 35% share (vaccines major contributor).
   3. Research & IT: Fastest-growing (biotech software, clinical trials).

• Regional Disparity:
  • Top states: Maharashtra, Karnataka, Telangana, Gujarat, Andhra Pradesh (66% share).
  • Low contribution: Eastern and Northeastern regions (<6%).