India’s bioeconomy grew 10 times in 10 years, J&K still underexplored: Dr Jitendra

Jammu, Mar 6: Union Minister Dr. Jitendra Singh Thursday said that while India’s bioeconomy grew more than 10 times in last 10 years, the biotech potential of Himalayan territories including Jammu & Kashmir, particularly their agri-biotech potential remains still underexplored.
India’s biotech economy, which soared from a $10 billion valuation in 2014 to over $130 billion in 2024, is set to reach a massive $300 billion by 2030, according to Dr. Jitendra Singh’s projections. He highlighted the ongoing Bio-revolution in India, comparing it to the IT revolution in the West and underscoring the importance of India’s rich natural and biodiversity resources in fueling this transformation. He underscored the rise in DBT’s Budget from 1,485 crores in 2013-14 to 3,447 crores in 2025-26 almost marking 130% increase.
The Minister underscored the transformative potential of Agri-Biotechnology J&K, with a special focus on the success of initiatives like the Aroma Mission and the floriculture revolution. He further highlighted India’s remarkable growth in biotechnology, positioning the country as a global leader in the field.
Dr. Jitendra Singh was delivering inaugural address at the PBBCON-2025, 2-day International and National Conference on “Emerging Innovations in Biochemistry and Biotechnology for Holistic Development of Agriculture” conference, in Jammu coinciding with the celebrations of India’s scientific achievements. He lauded Prime Minister Narendra Modi’s clarion call during the Mann Ki Baat for the nation to celebrate the day with festive fervor, a call echoed across Indian embassies worldwide.
The Union Minister emphasized how Agri-Biotech initiatives such as the Aroma Mission and the floriculture revolution have been instrumental in boosting J&K’s agricultural economy. These programs have helped local farmers cultivate aromatic plants and flowers, creating a thriving industry for essential oils and floriculture products. Dr. Singh praised the region’s favorable climate and how biotechnological innovations are reshaping traditional agriculture into a lucrative startUp industry.
Dr. Jitendra Singh also shared some key highlights from India’s biotech sector in 2024, including the development of the world’s first HPV vaccine, a breakthrough indigenous antibiotic ‘Nafithromycin’, and the pioneering gene therapy experiment for Hemophilia. He attributed these achievements to the Mission Suraksha initiative, which facilitated the creation of indigenous DNA-based vaccines during the COVID-19 pandemic. The world’s largest vaccination drive was one of India’s proudest moments.
India is now ranked third in the Asia-Pacific region and 12th globally in terms of biomanufacturing, a fact Dr. Singh proudly highlighted. He noted the New BioE3 Policy, launched under Prime Minister Modi’s leadership, which places a special focus on biomanufacturing and bio-foundries, marking a new era for India’s biotechnology sector.
The Anusandhan National Research Foundation (NRF), allocated ₹50,000 crores in the 2024 budget, is set to foster innovation, with a 60% contribution from the private sector. This will play a crucial role in nurturing India’s growing deep-tech and biotech startup ecosystem, which has seen exponential growth—from just 50 biotech startups in 2014 to nearly 9,000 today.
Reflecting on the past decade of India’s scientific journey, Dr. Singh noted the rise of India as the third-largest startup ecosystem globally, driven by youth-led innovation. He mentioned that 5352 Indian Scientific Minds now feature in the Top 2% globally, underscoring India’s rise as a global hub for talent and innovation.
India’s progress in the Global Innovation Index has been remarkable, jumping from 80th in 2014 to 39th in 2024, further solidifying its place among the world’s most innovative nations. Dr. Singh credited Prime Minister Modi for starting the “Start Up India, Stand Up India” movement, empowering young entrepreneurs to transform India’s economy.
In addition to biotechnology, Dr. Singh also touched upon India’s growing prominence in nuclear energy. Once met with skepticism, India’s nuclear energy program is now recognized globally for its peaceful and sustainable ambitions. India has set an ambitious target of 100 gigawatts of nuclear energy by 2047.This vision is reshaping global climate strategies, with India’s nuclear policy, envisioned by Homi Bhabha, now seen as a model for responsible energy development.
Dr. Jitendra Singh concluded by urging the youth of J&K to prepare for the region’s crucial role in India’s growth story, emphasizing that J&K, with institutions like SKUAST University, can be at the forefront of driving innovation in Agri-Biotech and other emerging sectors. He encouraged young minds to leverage the opportunities created by India’s expanding biotech sector and global scientific leadership.
Earlier Vice Chancellor SKUAST Prof B.N. Tripathi and President National Society of Biochemistry & Biotechnology in Agriculture Dr Sharma also addressed the audience.