India Bioeconomy Report 2025: bioeconomy grows 16-fold to $165.7 billion in 2024
Union Minister Dr Jitendra Singh released the India Bioeconomy Report 2025 at BIRAC's Foundation Day in New Delhi on 21 March 2025; it puts India's bioeconomy at $165.7 billion in 2024, up from $10 billion in 2014.
Summary
Union Minister Dr Jitendra Singh released the India Bioeconomy Report 2025 (IBER 2025) at the Foundation Day ceremony of the Biotechnology Industry Research Assistance Council (BIRAC) at the National Media Centre, New Delhi, on 21 March 2025, as BIRAC turned 13. The report says India's bioeconomy grew 16-fold from $10 billion in 2014 to $165.7 billion in 2024, surpassing the target of $150 billion by 2025, and contributes 4.25% of GDP, with a CAGR of 17.9% over the past four years. Biotech startups have grown from about 50 a decade ago to over 10,075. The Minister also launched BioSaarthi, a six-month cohort-based global mentorship initiative for biotech startups that will engage overseas experts, especially from the Indian diaspora.
Key facts
- Date
- 21 March 2025, New Delhi
- Released by
- Dr Jitendra Singh at BIRAC Foundation Day (13th)
- Bioeconomy 2024
- $165.7 billion (from $10 billion in 2014)
- Share of GDP
- 4.25%
- CAGR
- 17.9% over four years
- Biotech startups
- Over 10,075
- Also launched
- BioSaarthi mentorship initiative
Practice MCQs 5 questions
According to the India Bioeconomy Report 2025, released on 21 March 2025, what was the size of India's bioeconomy in 2024?
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Correct answer: B — $165.7 billion
IBER 2025 put India's bioeconomy at $165.7 billion in 2024, up from $10 billion in 2014.
What share of India's GDP did the bioeconomy contribute, as per the India Bioeconomy Report 2025?
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Correct answer: C — 4.25%
IBER 2025 says the bioeconomy contributes 4.25% to India's GDP.
What is 'BioSaarthi', launched by Dr Jitendra Singh on 21 March 2025?
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Correct answer: D — A global mentorship initiative for biotech startups
BioSaarthi is a six-month cohort-based global mentorship initiative for biotech startups, engaging overseas experts, especially from the Indian diaspora.
How many biotech startups does India have, as cited at the release of the India Bioeconomy Report 2025?
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Correct answer: B — Over 10,075
The Minister said biotech startups have grown from about 50 a decade ago to over 10,075.
Consider the following statements about the India Bioeconomy Report 2025: 1. India's bioeconomy surpassed the target of $150 billion set for 2025. 2. The bioeconomy grew at a CAGR of 17.9% over the past four years. Which of the above is/are correct?
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Correct answer: C — Both 1 and 2
IBER 2025 says the bioeconomy reached $165.7 billion in 2024, surpassing the $150 billion target for 2025, with a CAGR of 17.9% over the past four years.