An official update from Ministry of Science & Technology stated that India's bioeconomy has seen an exponential rise from $10 billion in 2014 to $165.7 billion in 2024, with a target to achieve $300 billion by 2030. India now ranks 12th globally in biotechnology and holds the 3rd position in the Asia-Pacific region. The country has emerged as the largest vaccine producer in the world and is home to the 3rd largest startup ecosystem globally. Biotech startups have surged from just 50 in 2014 to over 10,000 in 2024.
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