{"id":38724,"date":"2025-03-07T21:06:32","date_gmt":"2025-03-07T15:36:32","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=38724"},"modified":"2025-03-07T21:06:34","modified_gmt":"2025-03-07T15:36:34","slug":"india-bioeconomy-sector-growth","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/07-03-2025\/india-bioeconomy-sector-growth","title":{"rendered":"Growth in India\u2019s Bioeconomy Sector"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Economy<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Union Minister Dr. Jitendra Singh said that India\u2019s Bioeconomy grew more than 10 times in the last 10 years.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is\u00a0 BioEconomy?<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The BioEconomy is the <strong>knowledge-based production and use of biological resources to provide products, processes and services<\/strong> in all economic sectors within the frame of a sustainable economic system.<\/li>\n\n\n\n<li>It encompasses sectors like <strong>agriculture, forestry, fisheries, food production, biotechnology, and bioenergy.<\/strong>\u00a0<\/li>\n\n\n\n<li>Subsectors of the BioEconomy in India are;\n<ul class=\"wp-block-list\">\n<li><strong>BioPharma or BioMedical: <\/strong>It includes the development and production of medical products and services, such as pharmaceuticals, medical devices, and lab-grown organoids.<\/li>\n\n\n\n<li><strong>BioAgri: <\/strong>It includes the development and production of genetically modified crops and animals, precision agriculture technologies, and bio-based products. <strong>EX: Bt Cotton.\u00a0<\/strong><\/li>\n\n\n\n<li><strong>BioIndustrial: <\/strong>It includes the development and production of biobased chemicals and products using enzymes, biosynthetic routes, and recombinant DNA technology.\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>BioEconomy of India<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India\u2019s BioEconomy has grown 13-fold over the last decade, from <strong>$10 billion in 2014 <\/strong>to over <strong>$130 billion in 2024<\/strong>, with a projection to reach<strong> $300 billion by 2030.\u00a0<\/strong><\/li>\n\n\n\n<li>In the Global Innovation Index, India has climbed from 81st place in 2015 to <strong>40th out of 132<\/strong> economies.<\/li>\n\n\n\n<li>India ranks <strong>3rd in the Asia-Pacific region<\/strong> and 12th globally in terms of biomanufacturing.\n<ul class=\"wp-block-list\">\n<li><strong>Biotechnology,<\/strong> a sunrise sector, has achieved a valuation of <strong>Rs 75,000 crore<\/strong> over the past 10 years.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>In 2022, BioEconomy accounted for <strong>4% <\/strong>of India\u2019s gross domestic product (GDP) of <strong>$3.47 trillion <\/strong>and<strong> employs over 2 million <\/strong>people.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"f0dcb4\" data-has-transparency=\"false\" style=\"--dominant-color: #f0dcb4;\" loading=\"lazy\" decoding=\"async\" width=\"594\" height=\"199\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/03\/BioEconomy-of-India.png\" alt=\"BioEconomy-of-India\" class=\"not-transparent wp-image-38725\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/03\/BioEconomy-of-India.png 594w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/03\/BioEconomy-of-India-300x101.png 300w\" sizes=\"auto, (max-width: 594px) 100vw, 594px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>Government Initiatives<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Biotechnology Industry Research Assistance Council (BIRAC)<\/strong> established by the Department of Biotechnology (DBT) is aimed at strengthening and empowering emerging biotechnology enterprises to undertake strategic research and innovation.<\/li>\n\n\n\n<li>Policy initiatives of the Government of India (GoI) such as <strong>Startup India and Make in India programs<\/strong> are aimed to develop India as a world-class Biotechnology and Bio-manufacturing hub.<\/li>\n\n\n\n<li>Favorable Government Policies like <strong>Draft R&amp;D Policy 2021, PLI Schemes and Clinical trial rules<\/strong> have propelled India to be the <strong>\u2018pharmacy of the world\u2019.\u00a0<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges for BioEconomy of India<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Global Competition:<\/strong> India\u2019s BioEconomy faces stiff competition from more established bio Economies in countries like the USA, EU, and China, which have more advanced infrastructure, funding, and R&amp;D capabilities.<\/li>\n\n\n\n<li><strong>Intellectual Property (IP) Protection: <\/strong>Protecting intellectual property in the biotech sector is challenging, leading to concerns over innovation theft and lack of incentives for research.<\/li>\n\n\n\n<li><strong>Lack of Infrastructure: <\/strong>Insufficient infrastructure for research, development, and commercialization of biotechnology innovations.<\/li>\n\n\n\n<li><strong>Brain Drain: <\/strong>Talented scientists and researchers leave India for better opportunities abroad, reducing the country\u2019s capacity for innovation.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Ahead<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Encourage increased <strong>public and private investment<\/strong> in biotech R&amp;D through grants, tax incentives, and venture capital support.<\/li>\n\n\n\n<li><strong>Engage in global research collaborations<\/strong> to leverage expertise, share resources, and accelerate the development of new technologies.<\/li>\n\n\n\n<li><strong>Develop innovation clusters\/ecosystems<\/strong> where academia, industry, and government entities can collaborate closely on BioEconomy initiatives.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=2108904\" rel=\"nofollow noopener\" target=\"_blank\"><strong>PIB<\/strong><\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Union Minister Dr. Jitendra Singh said that India\u2019s Bioeconomy grew more than 10 times in the last 10 years.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-38724","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/38724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=38724"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/38724\/revisions"}],"predecessor-version":[{"id":38727,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/38724\/revisions\/38727"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=38724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=38724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=38724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}