Union Minister of Science and Technology Dr. Jitendra Singh on Wednesday said India’s bioeconomy is projected to grow to $300 billion by 2030, up from $165.7 billion in 2024 and just $10 billion in 2014. He was speaking at an event marking one year of the BioE3 (Biotechnology for Economy, Environment and Employment) Policy, where he launched the BioE3 Challenge for Youth and the country’s first National Biofoundry Network.

The Minister highlighted that under the BioE3 Policy, the Department of Biotechnology (DBT) has established new institutions, biomanufacturing hubs, biofoundries, and AI-driven biotech centers. Notable milestones include the inauguration of India’s first Biomanufacturing Institute in Mohali, joint research calls in frontier areas such as cell therapy, climate-smart agriculture, carbon capture, and functional foods, as well as a collaboration with ISRO on space biotechnology. Three DBT-backed experiments were already conducted on the International Space Station earlier this year.

At the state level, DBT has partnered with Assam to set up a BioE3 Cell, while globally, Indian missions in 52 countries have provided inputs for international collaborations.

The BioE3 Challenge for Youth invites school and university students, researchers, startups, and innovators to design safe-by-default biotech solutions across health, agriculture, environment, and industry. Top winners will receive cash awards of ?1 lakh, while up to 100 awardees will be eligible for funding of up to ?25 lakh through BIRAC, along with mentoring and incubation support.

The National Biofoundry Network, comprising six institutions, will help scale up biotech innovations, strengthen indigenous biomanufacturing, and create employment opportunities.

Dr. Singh said the initiatives underscore the government’s commitment to making biotechnology a key driver of India’s economy, environment, and employment. Principal Scientific Adviser Prof. Ajay Kumar Sood added that biotechnology, converging with AI, space science, and engineering, is opening new career pathways while contributing to sustainability, public health, and climate action.