India’s biotechnology sector has witnessed exponential growth over the past decade, with the number of biotech startups rising from just 50 in 2014 to nearly 11,000 today, according to Minister of State for Science and Technology Jitendra Singh.
Speaking at an event celebrating World Bioproduct Day on July 8, Singh credited the surge to strong policy support and institutional collaboration. He emphasized that early-stage industry partnerships and sustained financial backing are essential to driving innovation and commercialization in the biotech space.
“Bioproducts aren’t limited to laboratories anymore. They’re about livelihoods — from biodegradable packaging to eco-friendly personal care, from rural employment to green jobs,” the minister noted.
He added that India is poised to lead the next industrial revolution, which he believes will be driven by a bioeconomy focused on sustainability, innovation, and employment generation. The government has set an ambitious target of building a $300 billion bioeconomy by 2030.
The event was organized by the Department of Biotechnology (DBT) along with its associated agencies BIRAC (Biotechnology Industry Research Assistance Council) and iBRIC+, highlighting the increasing emphasis on bioproduct innovation and entrepreneurship.
Singh’s comments come against the backdrop of several government-led initiatives aimed at bolstering the biotech ecosystem. These include the launch of the Vigyan Dhara scheme and the BioE3 (Biotechnology for Economy, Environment, and Employment) policy, both designed to turn India into a global biomanufacturing hub.
To support early-stage innovation, BIRAC currently offers grants of up to ₹50 lakh to biotech startups for idea validation, prototype development, and proof of concept stages. These funding mechanisms have played a crucial role in strengthening the startup landscape and attracting investor interest.
This momentum is already visible in recent funding activity. In January, Kotak Alternate Asset Managers announced the first close of its life sciences fund at ₹250 crore. More recently, biotech startup Loopworm secured $3.3 million in a pre-Series A round co-led by WaterBridge Ventures and Enrission India Capital, while GreenGrahi, an agri-biotech startup, raised ₹32 crore in a seed round led by Avaana Capital.
With a market size projected to hit $300 billion by 2030, India’s biotech sector is emerging as a critical driver of future-ready, green innovation — rooted in local entrepreneurship and global ambition.
