India's bio-economy reached $165B in 2024

Current Context: The report is titled "India Bioeconomy Report 2025". It was released by the Department of Biotechnology (DBT) in collaboration with BIRAC (Biotechnology Industry Research Assistance Council).

• The report was unveiled on 21st March 2025 during the BIRAC Foundation Day ceremony.

India's Bioeconomy Growth:

• Reached $165.7 billion in 2024, marking a 16-fold increase from $10 billion in 2014.
• Contributes 4.25% to India's GDP.

Sectoral Contributions:

• Biopharma: Vaccines, medical devices, and diagnostics.
• Bio-industrial: Biofuels, bioplastics, and chemicals.
• Bio-agriculture: Genetically modified crops like Bt Cotton.
• Bio-IT and Research Services: Clinical trials and bioinformatics.

Government Initiatives:

• Introduction of the BioE3 Policy (Biotechnology for Economy, Employment, Environment).
• Launch of BioSaarthi, a global mentorship initiative for biotech startups.

Future Projections:

• India aims to achieve a $300 billion bioeconomy by 2030, driven by innovation, research, and policy support.

Question:

Q.1 As per "India Bioeconomy Report 2025", What was the value of India's bioeconomy in 2024?
a) $100 billion
b) $125.4 billion
c) $165.7 billion
d) $200 billion

Answer: c) According to the India Bioeconomy Report 2025, India's bioeconomy reached $165.7 billion in 2024, showing a 16-fold increase from $10 billion in 2014.