The India BioEconomy Report 2021 is brought out by the Biotechnology Industry Research Assistance Council (BIRAC), through its Make in India Cell and the Association of Biotechnology Led Enterprises (ABLE).
Key Findings
India’s BioEconomy by the end of calendar year 2020 was valued at $70.2 Billion. India registered 12.3 percent growth in BioEconomy compared to the previous year’s figure of $62.5 billion.
The share of BioEconomy in the national GDP too has been rising steadily in the last few years. The share in 2020 stands at 2.7 % against 2.2 % in 2019.
India now has over 4,237 biotech start-ups, nearly a 25 percent jump in its base since 2019.
The BioEconomy continues to be driven by the BioPharma segment. It has alone contributed to 62 percent share of the total BioEconomy.
The BioAgri segment accounted for 16 percent share.
The BioServices segment’s share was 15 percent while the BioIndustrial segment was at 8 percent share.
Research services’ contribution to BioEconomy along with the BioIT and IT healthcare portfolio is valued at $10.5 billion. This has grown from $9.5 billion in 2019.
