The bioeconomy sector is gaining significant momentum globally. The World Bioeconomy Forum values the sector at approximately $4 trillion with the potential to grow to $30 trillion by 2050. Several economies worldwide increasingly invest in bio-based innovations to address their energy, food security, health, and climate mitigation and adaptation issues. India is one of the front runners in its global bioeconomy growth, with a projected bioeconomy worth $300 billion by 2030.
Bioeconomy complements the clean technology revolution and embraces the key tenets of a circular economy, i.e. reuse, repair, repurpose, refurbish, and recycle, to optimise resource use and minimise waste.
While recycling and repurposing biological resources lower the demand for virgin materials and thus reduce pressure on ecosystems and prevent habitat destruction, repairing and reusing cut down on emissions associated with production and disposal processes. A circular bioeconomy, therefore, significantly contributes towards the reduction or efficient management of waste, air and water pollution mitigation, and biodiversity conservation. It is a cornerstone to achieving a low-carbon, climate-resilient, and nature-positive future.
India’s bioeconomy has grown remarkably, from $10 billion in 2014 to $151 billion in 2023, accounting for over 4% of the country’s gross domestic product. Recognising its transformative potential, India introduced the first dedicated biotechnology policy in August 2024, the Biotechnology for Economy, Environment and Employment Policy. The policy aims to boost industrial output by fostering high-performance biomanufacturing in areas such as bio-based chemicals, smart proteins, precision biotherapeutics, and climate-resilient agriculture. Specifically, the BioE3 Policy targets India’s green growth by establishing biomanufacturing hubs and bio-artificial intelligence (bio-AI) centres, promoting regional development, leveraging local resources, integrating cutting-edge technologies, and generating employment. Furthermore, with a focus on regulatory reforms and international collaborations, the policy aims to reinforce the country’s competitiveness in the global bioeconomy sector.
India is at a critical threshold of its bioeconomy journey. By prioritising innovation, strengthening local capabilities, and embracing circular principles, the country could play a crucial role in the global transition towards a bio-based future. This transformation is not merely another opportunity for growth but a pathway to ensure a secure, inclusive, and sustainable future.
The full article can be accessed here (English and German versions).
