India's Bioeconomy Jumps from $10 Billion to $190 Billion in 12 Years; Space Startups Cross 400, Says Jitendra Singh
New Delhi, June 15, 2026: India's science and technology ecosystem has witnessed remarkable growth over the last twelve years, with the country's bioeconomy expanding from around $10 billion in 2014 to more than $190 billion today, Union Minister Dr. Jitendra Singh said on Monday.
Addressing a press conference on "12 Years of Transformative Growth in Science, Technology and Innovation" at the CSIR headquarters in New Delhi, the Minister highlighted the rapid advances made across biotechnology, space, weather forecasting, healthcare and strategic technologies under the leadership of Prime Minister Narendra Modi.
Bioeconomy Targets $300 Billion by 2030
Dr. Jitendra Singh said India's biotechnology sector has evolved into a major global force, driven by indigenous innovations in healthcare, diagnostics, genomics and biopharmaceuticals. The country is now aiming to expand its bioeconomy to $300 billion by 2030.
He noted that policy initiatives such as the BioE3 framework have played a key role in strengthening India's biotechnology capabilities and promoting innovation.
Space Startup Ecosystem Expands Rapidly
The Minister said reforms in the space sector have transformed India's innovation landscape. From having only a handful of space startups a decade ago, the country now has more than 400 startups operating in the sector.
He added that India's space economy, currently valued at around $8 billion, is projected to grow to nearly $45 billion in the coming years.
Referring to the success of Chandrayaan-3, Dr. Jitendra Singh said India demonstrated its technological prowess by becoming the first country to achieve a successful landing near the Moon's south pole.
India is also working towards establishing the Bharatiya Antariksh Station by 2035 and sending an Indian to the Moon by 2040.
Weather Forecasting Network Strengthened
According to the Minister, weather forecasting capabilities have improved significantly during the last twelve years.
The number of operational weather radars has increased from 17 in 2014 to nearly 50 at present, while another 50 radars are planned under Mission Mausam.
Forecast coverage has expanded from around 300 cities to nearly 1,700 locations, helping improve disaster preparedness and providing localized weather information to citizens and farmers.
Science Driving Economic Growth
Dr. Jitendra Singh said scientific advancements are increasingly benefiting ordinary citizens and contributing to economic development. He highlighted the use of technologies developed by CSIR and other institutions in sectors such as healthcare, agriculture, infrastructure, clean energy and manufacturing.
He said India's scientific progress over the past decade has strengthened the country's position as a knowledge-driven economy and created new opportunities for growth and employment.
Senior officials, including CSIR Director General Dr. N. Kalaiselvi and Department of Biotechnology Secretary Dr. Rajesh Gokhale, also presented achievements in areas ranging from deep ocean technologies and quantum missions to supercomputing and geospatial policies.
The Minister said the achievements of the last twelve years demonstrate how science, technology and innovation have become central to India's journey towards the vision of Viksit Bharat 2047.