India’s Bioeconomy Boom
New Delhi
India’s bioeconomy has witnessed remarkable growth over the past decade, expanding from $10 billion in 2014 to $165.7 billion in 2024. With an ambitious target of $300 billion by 2030, the sector is becoming a key driver of sustainable growth and innovation, supported by advances in biotechnology, agricultural innovation, biomanufacturing, and healthcare, according to Millennial Media Consulting.
The bioeconomy is anchored in four major subsectors: BioIndustrial (47 per cent), BioPharma (35 per cent), BioAgri (8 per cent), and BioResearch (9 per cent). Officials highlighted that India has consolidated its position as a global vaccine powerhouse, with the Serum Institute of India increasing its share of the global vaccine market, excluding Covid-19 products, from 19 per cent in 2021 to 24 per cent in 2024. The growth was propelled by higher production of pneumococcal conjugate vaccine (PCV), measles-rubella (MR), and tetanus-diphtheria (Td) vaccines.
The global vaccine market remains highly concentrated, with 10 manufacturers supplying more than 80 per cent of vaccines. Among them, three Indian firms—Serum Institute, Bharat Biotech, and Biological E—play a pivotal role, together accounting for 40 per cent of WHO’s vaccine purchases. Nearly 20 per cent of India’s vaccine exports went to the WHO African Region.
In another milestone, India achieved 20 per cent ethanol blending (E20) in petrol in 2025, five years ahead of schedule. Rising from just 1.5 per cent in 2014, the programme has transformed farmer incomes and energy security. Between ESY 2014–15 and June 2025, farmers received Rs 1,21,000 crore for ethanol feedstock, helping eliminate sugarcane arrears and boosting maize cultivation. At the 20 per cent blending level, payments to farmers are expected to reach Rs 40,000 crore this year, with forex savings of around Rs 43,000 crore.
