India's bio-economy witnessed 16-fold rise in last ten years

India's bio-economy has witnessed a remarkable 16-fold rise in 10 years of the past one decade, from $ 10 Billion in 2014 to an impressive $165.7 Billion in 2024, announced the Union Minister Jitendra Singh while releasing India Bioeconomy Report 2025 (IBER 2025) at the BIRAC Foundation Day ceremony at the National Media Centre today. This exponential growth, he emphasized, is a testament to the government's commitment to fostering biotechnology as a key pillar of India's future economic growth. In just 10 years, India's bio-economy has expanded from a modest $10 billion to $165.7 billion, far surpassing our initial target of $150 billion by 2025,Singh stated quoting IBER 2025. The report highlighted the progress made by the bioeconomy sector and as per the report, the sector is contributing 4.25% to the overall GDP. The sector has shown a CAGR of 17.9% over the past four years, showcasing India's potential as a global biotech powerhouse.