NITI Aayog moots ₹50,000-crore fund, schemes for biotech boost
New Delhi: The government's public policy think tank NITI Aayog has unveiled an ambitious blueprint to turn biotechnology into India's next major growth engine, proposing
New Delhi: The government's public policy think tank NITI Aayog has unveiled an ambitious blueprint to turn biotechnology into India's next major growth engine, proposing a ₹50,000-crore BioEconomy Growth Fund, six national biotechnology missions and regulatory reforms to build a $691-billion bioeconomy by 2035, which would generate over 30 million high-value jobs. The recommendations are part of the 'Roadmap for Building India as a Leading BioEconomy Powerhouse by 2035', released by the NITI Frontier Tech Hub in consultation with the department of biotechnology, industry leaders and biotechnology experts. The report was released by Jitendra Singh, minister of state for science and technology and Gobardhan Das, member, NITI Aayog, on Thursday. Bioeconomy is emerging as a new engine of economic growth, with biotechnology increasingly being used to develop medicines, improve crop yields, produce sustainable fuels and chemicals and manufacture materials using biological processes instead of fossil fuel-based methods. Quick answers to key questions • 5 QUESTIONS 1 What is the objective of the ₹50,000-crore BioEconomy Growth Fund proposed by NITI Aayog? ⌵ The ₹50,000-crore BioEconomy Growth Fund aims to bridge the gap between laboratory innovation and commercial-scale manufacturing, supporting biomanufacturing and advanced therapeutics, diagnostics, and synthetic biology ventures. 2 How will the six national biotechnology missions contribute to India's bioeconomy?
⌵ The six national biotechnology missions will build capabilities in important areas such as gene therapies, climate-resilient crops, and disease surveillance, helping advance India's biotechnology sector and positioning it as a global hub for biologics. 3 Why is faster regulatory approval important for India's biotechnology sector? ⌵ Faster regulatory approvals are crucial to accelerate innovation in emerging technologies like cell and gene therapies, enabling India to compete globally in biomanufacturing and reducing reliance on imported bio-inputs. 4 What role does biotechnology play in enhancing India's economic growth? ⌵ Biotechnology is essential in developing medicines, improving crop yields, and producing sustainable fuels, making it a significant driver for India's economic growth and contributing to the expansion of its bioeconomy. 5 Should India focus on developing its own biomanufacturing capabilities? ⌵ Yes, developing domestic biomanufacturing capabilities can reduce reliance on imports, strengthen supply chain security, and position India as a competitive player in the global biotechnology market. According to the report, India's bioeconomy has expanded nearly 16-fold over the past decade, growing from $10 billion in 2014 to $195.3 billion in 2025, and it now contributes 4.8% to the country's GDP. It said the next phase should move from incremental growth to mission-mode execution by leveraging artificial intelligence, synthetic biology and next-generation biomanufacturing.
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