By Shishir Prashant 
PrashantNews
India’s bio-economy projected to grow to $1 trillion by 2047, Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, Dr. Jitendra Singh on Friday said.
“The 21st century will be driven by a biology-led economy which is projected to grow to $1 trillion by 2047,” he said addressing an international conference at IIT Roorkee virtually.
The Minister was delivering the keynote address at the International Conference on “Vision 2047: Prosperous and Great Bharat 2.0” held at IIT Roorkee. The conference is jointly organised by IIT Roorkee and Swadeshi Shodh Sansthan, with participation from over 100 institutions across India and abroad. Among those present were IIT Roorkee Director Prof. K.K. Pant and Padma Shri awardee Shridhar Vembu.
Highlighting the government’s policy thrust, the Minister spoke about the BioE3 Policy (Biotechnology for Economy, Environment and Employment) approved in 2024, describing it as a defining step towards bio-manufacturing-led growth. He said India’s bio-economy has expanded from $10 billion in 2014 to over $165 billion today, growing at nearly 18% annually, with a target of $300 billion by 2030. The number of biotech startups has increased from around 50 to more than 11,000. He also referred to the Anusandhan National Research Foundation (ANRF) with a ₹50,000 crore corpus and the ₹1 lakh crore Research, Development and Innovation (RDI) Fund, designed to provide long-term, low-cost financing for deep-tech innovation.
Dr. Singh presented a series of major scientific advances achieved in recent years, including progress under Genome India, indigenous CAR-T cell therapy, development of mRNA vaccine platforms, India’s first indigenously developed antibiotic, establishment of a National Biobank, and space biotechnology experiments carried out in collaboration with ISRO. He also highlighted the expansion of nuclear medicine facilities to deliver affordable cancer care and progress in deep ocean exploration through missions such as Samudrayaan.