Soaring Toward a $100 Billion Bio-Manufacturing Hub in India
India is the third-largest biotechnology destination in the Asia Pacific and one of the top 12 biotechnology locations worldwide. India's biotechnology sector reached US$80.12 billion in 2022, up 14% from the previous year. In the last 10 years, the value of the Indian economy has multiplied, and COVID-19 has given the sector a much-needed boost.
As one of the top locations for bio innovation and biomanufacturing today, India is recognized as a rising sector and a crucial component of its goal of having a US$5 trillion economy by 2024. The biotechnology industry in India is divided into biopharmaceuticals, agriculture, bio information technology, and services.
India is one of the world's largest exporters of affordable pharmaceuticals and vaccinations. With the most licensed biosimilars on the domestic market, India is also a global leader in this field.
With nearly 55% of Indian terrain under agriculture and allied activities, India is one of the largest producers of Bt-Cotton and has the 5th Largest Area of Organic Agriculture Land Globally.
The application of biotechnology in industrial processes is changing how garbage is disposed of and how goods are manufactured across the nation.
BioIT & Services:
India offers a strong capability in contract manufacturing, research, and clinical trials, and is home to the most US FDA-approved plants globally outside of the US