• Biotechnology in India has recorded significant growth over the past decade, and the sector’s current size could double by 2030
• Opportunities exist in the biopharmaceuticals, bio-agriculture and bio-manufacturing segments
• The Indian government has several programmes and policies in place to promote biotech investments

Biotechnology is playing an increasingly important role in India after a decade of impressive growth. However, the sector is far from reaching its full potential. Backed by robust government support, a thriving startup ecosystem and improving infrastructure, the country has become a leading destination for foreign investment. Asian Insiders India Partner Priti Verma offers insights into the current situation and what the future may bring.

In 2014, India’s bioeconomy was valued at USD10 billion. Last year, its value reached USD165 billion, and the 2030 target for the sector is USD300 billion. It currently accounts for more than four percent of the country’s GDP.

The bioeconomy is a cornerstone of the government’s Viksit Bharat@2047 which seeks to elevate India to developed nation status by 2047. The early returns have been promising, especially as they relate to biotechnology.

India has become the third-largest biotech market in the Asia-Pacific region and is now among the top 12 in the world. While the country only holds a three percent share of the global biotech market, its size and potential for scale should see this increase moving forward.

Of course, the situation remains a work in progress. India has some advantages. Infrastructure is being built, innovations and new technologies are being launched, and the country boasts a skilled workforce with expertise in the sciences and engineering.

Key Indian biotech segments

Biopharmaceuticals

In 2025, the Indian biopharmaceutical market generated almost USD9 billion in revenue with projections showing the figure could surpass USD17 billion by 2033. Vaccines have been a critical component of this. India accounts for around 60 percent of global supply while becoming a leader in exports. Diagnostics and therapeutics account for a significant portion of the biopharmaceutical segment as well.

Several recent changes have yielded sector-wide improvements. The Central Drugs Standard Control Organization (CDSCO) was designated as the national regulatory authority and has streamlined the approval process and introduced clearer guidelines.

The growth of biopharmaceuticals has spread throughout India. Ahmedabad is an emerging biotech manufacturing centre. Pune continues to develop biologics capabilities. Hyderabad is a hub for vaccine production.

Bio-agriculture

Agriculture is a pillar of the Indian economy, but it faces risks from climate change and a need to improve sustainability. Bio-agriculture has been identified as a way to solve these challenges. Opportunities in biotech seeds, biofertilisers and biopesticides currently exist. The segments is projected to record a compound annual growth rate of more than six percent between 2025 and 2033. 

Bio-industrial

The bio-industrial segment is essential for India as the development of biofuels, enzymes and biodegradable materials will have a positive impact on other sectors. A handful of companies are already active in the segment, but there is room to expand capabilities.

Biotech segments to watch

Other Indian biotech segments are expected to experience significant growth moving forward. Bio-manufacturing is crucial considering the country’s desire to expand these activities. Several states have or are in the process of creating favourable conditions for investment.

There is increasing interest in bio-services and bioinformatics while emerging sectors are expected to be further developed.

Government support continues

The Indian government has been proactive in supporting biotech efforts. Here are a few notable initiatives.

BioE3 Policy – The BioE3 Policy covers the development and proliferation of biotechnology for the economy, environment and employment. One of the key aims is to modernise the biomanufacturing process to improve efficiency and sustainability. Currently, BioEnablers are being set up across the country, including bio-artificial intelligence hubs, biofoundries and biomanufacturing hubs.

Department of Biotechnology (DBT) – Launched in 1986, the DBT leads several biotech areas. It drives research and development in the country. The department is now overseeing the third phase of the National Biotechnology Development Strategy which is guiding plans to transform India into a global bio-manufacturing hub.

Another DBT-backed scheme, Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE), was approved in 2024. This saw the Biotechnology Research Innovation and Entrepreneurship Development programmes merged to provide better support for research, the startup ecosystem and human resources development.

Production Linked Incentive (PLI) Scheme – A number of biotech products are eligible for the PLI scheme. The programme provides a range of incentives to manufacturers in targeted sectors.  

A growing infrastructure

Recognizing the need for infrastructure in the development of biotechnology and the wider bioeconomy, significant investment has been made in this space. For example, there are now 12 biotech parks in India supported by the DBT. Additionally, several biofoundry clusters are now operational.

The DBT continues to support the Biotechnology Industry Research Assistance Council (BIRAC) which has established nearly 100 bio-incubation centres throughout the country. The availability of these is a major reason why the biotech startup ecosystem is growing rapidly.  

There are now more than 10,000 biotech startups in India. This figure was close to 50 in 2014. Other programmes, such as the Bioincubators Nurturing Entrepreneurship for Scaling Technologies (BioNEST), further assist efforts.

Biotechnology in India: Can growth continue?

There are numerous positive signs for biotechnology in India, indicating it will continue its upward growth trajectory. For starters, biopharmaceuticals, bio-agriculture, bio-manufacturing and related segments are vital for the country to achieve economic and social development goals.

Arguably, the most important element of growth is the robust government support for biotech. It shows India is committed to developing these activities. However, the situation is not entirely smooth sailing.

Regulatory hurdles remain a concern. Several major foreign firms have invested in India’s biotech activities. Others continue to wait for more clarity on existing challenges before making a decision.

From a business standpoint, entering India at present offers greater upside. As growth continues, opportunities will shrink as well as government incentives. It should also be stressed that most challenges are navigable.

Partnering with a market entry specialist like Asian Insiders provides the platform to achieve your goals. Having assisted numerous overseas biotech firms with entrance into India, our in-country team of local experts can guide you through the entire process, from partner matching and sales channel development to understanding regulations and potential cultural issues.

Biotech in India is primed for major growth in the coming years. Making a move today ensures your company is best positioned for success.

To learn more about biotechnology opportunities in India, please contact Jari Hietala, Managing Partner: jari.hietala(at)asianinsiders.com or Priti Verma, India Partner: priti.verma(at)asianinsiders.com