Biotech Startups Surged From 50 to About 9,000 in Last Decade

NEW DELHI: the biotech ecosystem has grown to nearly 9,000 in last ten years from just 50 biotech startups in 2014 in India.

Union Minister Jitendra Singh attributed the increase to the remarkable growth in bio-economy in the last 10 years — from $10 billion in 2014 to over $130 billion in 2024.

The bio-economy industry is expected to reach $300 billion by 2030.

Singh noted that “sustainability” is of high priority for the government amid the continuing threat of “pollution, and the climate change challenges”.

He also highlighted India’s aim to achieve a net zero target by 2070, as Prime Minister Narendra Modi announced at COP-26 in 2021.

Singh informed that in the last few years, the government has undertaken several initiatives towards sustainability. This includes the Green Hydrogen mission, the mission for climate change, and the deep sea mission.

The government’s recently introduced ‘BioE3 Policy’ is also an important step forward towards sustainable growth in the backdrop of climate change, depleting non-renewable resources and unsustainable waste generation.