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India is on a path to significantly expand its bioeconomy, with projections indicating growth from $130 billion in 2024 to $300 billion by 2030. This expansion is driven by the newly introduced Biotechnology for Economy, Employment and Environment (BioE3) policy, which aims to position India as a leader in sustainable development and bio-based industries. India’s bioeconomy has grown thirteenfold over the past decade. “India’s bioeconomy has experienced a remarkable growth, from US$10 billion in 2014 to over US$130 billion in 2024, with projections to reach US$300 billion by 2030,” said Jitendra Singh, Minister for Science and Technology. This growth is part of a broader strategy to address global challenges such as climate change and the depletion of non-renewable resources. The BioE3 policy promotes a shift from traditional chemical-based industries to sustainable bio-based models. This approach focuses on developing a circular bioeconomy, achieving net-zero carbon emissions, and encouraging the production of bio-based products. These efforts align with global trends, similar to the European Union’s “Green Taxonomy,” where sustainable activities are certified and promoted by governments.
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