South leads in bioeconomy boom with 45.4% share in 2024

South India accounted for the largest share of India’s bioeconomy, accounting for $75.2 billion (45.4%) in 2024, followed by the western region at $50.02 billion (30.3%), according to an industry report. Maharashtra, Karnataka and Telangana emerged as the key biotech hubs, collectively accounting for 38.8% of the national total.

“This concentration suggests that these states have favourable conditions for biotech innovation, such as robust infrastructure, access to funding and a skilled talent pool,” said the India Bioeconomy report published by the Association of Biotechnology Led Enterprises.

The bio-industrial segment, followed by biopharma, remained the top contributor to India’s bioeconomy, which reached $165.7 billion in 2024. Over the last decade, the sector has seen 16-fold growth.

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“With advancements in biomanufacturing, agribiotech and health sciences, India is poised to reach its ambitious bioeconomy targets, creating new opportunities for startups, researchers and industries,” said GS Krishnan, honorary president of the Association of Biotechnology Led Enterprises.

Collaboration among industry, academia and policymakers will be crucial for India to become a global bio-industrial hub, he said.

Earlier this week, science and technology minister Jitendra Singh called for greater private-sector investments in bioeconomy.

“We are witnessing the dawn of a bio-revolution that will be as transformative for India as the IT revolution was for the West. With sustained efforts, India is not just participating in the global biotechnology revolution —we are leading it,” Singh said in Delhi while launching Bio Saarthi, a global mentorship initiative.

The number of biotech startups doubled in 2024, reaching 10,075. The number of new startups registered in the year, however, fell more than 13% to 1,544 from 1,776 in 2023.