Question
According to the BioE3 Policy details provided, what was
the size of India’s bioeconomy in 2024 and what is the target by 2030?Solution
The BioE3 Policy aims to scale India’s bioeconomy from $165.7 billion in 2024 to a target of $300 billion by 2030. Historical context shows growth from $10 billion in 2014 to $165.7 billion in 2024, reflecting rapid expansion. The policy supports infrastructure such as the first Biomanufacturing Institute, the National Biofoundry Network, biofoundries, and over a dozen joint research initiatives. It also includes youth-focused measures like the BioE3 Challenge for Youth and partnerships (e.g., DBT with ISRO and state BioE3 Cells) to encourage innovation, biomanufacturing capacity, employment generation, and safe-by-design biotech solutions.
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