In 2024, South India topped India’s bioeconomy, accounting for 45.4% (US$ 75.2 billion), while Maharashtra, Karnataka, and Telangana stood out as major biotech centers. The sector’s strong growth was fueled by advances in biomanufacturing, agribiotech, and health sciences. GS Krishnan, honorary president of the Association of Biotechnology Led Enterprises, emphasized that partnerships between industry, academia, and policymakers will be key to shaping India’s bio-industrial future.
South India has emerged as the powerhouse of India’s bioeconomy, contributing a significant US$ 75.2 billion, which amounts to 45.4% of the country’s total bioeconomy value in 2024, according to the latest India Bioeconomy report by the Association of Biotechnology Led Enterprises (ABLE). The western region followed, contributing US$ 50.02 billion or 30.3% of the national bioeconomy.
Maharashtra, Karnataka, and Telangana have established themselves as the nation’s leading biotech hubs, collectively accounting for 38.8% of India’s total bioeconomy. The report attributes this concentration of activity to the states’ favorable environment for biotech innovation. “These states benefit from robust infrastructure, a strong talent pool, and easy access to funding, making them attractive destinations for biotech companies,” ABLE stated.
India’s bioeconomy reached an impressive US$ 165.7 billion in 2024, marking a 16-fold expansion over the past decade. The bio-industrial segment remained the leading contributor, followed closely by biopharma. Experts believe this rapid growth has been fueled by significant advancements in biomanufacturing, agribiotech, and health sciences.
“With ongoing innovation in these key sectors, India is well on track to achieve its ambitious bioeconomy targets. This growth will open up new opportunities for startups, researchers, and industries alike,” said GS Krishnan, honorary president of ABLE. He further emphasized the critical role of collaboration among industry stakeholders, academic institutions, and policymakers in transforming India into a global bio-industrial hub.
The government has also expressed confidence in India’s bioeconomy trajectory. Earlier this week, Science and Technology Minister Jitendra Singh underscored the sector’s growing importance and its potential to reshape the national economy. “We are witnessing the dawn of a bio-revolution that will be as transformative for India as the IT revolution was for the West,” Singh remarked during the launch of Bio Saarthi, a global mentorship initiative aimed at nurturing talent and innovation in the biotech sector. He also called for greater private-sector investments to sustain and accelerate this momentum.
While the number of biotech startups in India doubled in 2024, reaching 10,075, the number of newly registered startups declined by over 13% to 1,544 from 1,776 in 2023. Despite this dip, industry experts remain optimistic, citing a strong foundation for long-term growth and innovation.
With regions like South India and Maharashtra leading the charge, India’s bioeconomy is poised to play a pivotal role in the country’s economic and technological transformation. The next decade is expected to witness deeper integration of biotechnology across sectors, including healthcare, agriculture, and sustainable manufacturing, propelling India towards becoming a global biotech leader.
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