India’s bio-economy likely to touch $300 billion by 2030
That was surely eye popping for me
$300 billion by 2030, that would be more than the individual GDP of 75% of the world’s nations by then. (Even at its current about $100 billion, India’s bio-economy is a pretty hefty market)
The bio-economy sector comprises bio-pharma, bio-agri, bio-industrials, bio-energy & bio-services (See more details from the news item here – https://lnkd.in/gA_HeKdk )
Of the $300 billion, I have a suspicion that bio-agri & bio-pharma could form the largest chunks – 65-70% possibly. EAI’s CO3 Bio division had estimated that the bio-industrials & bio-energy sectors together will be about $50 billion by 2030. Bio-services (Bio-IT, CRO etc) is likely to account for the rest.
Whichever way you look at it, this is a market that should interest many startups, as well as corporates. For more than just the economically attractive prospects – large portions of the bio-economy growth will have highly positive effects on India’s rural and farmer populations, a highly welcome development.
For those keen on knowing more about the specific opportunities opening up in India’s bio-economy under the bio-energy & bio-industrials sector, EAI’s CO3 Bio section could be a good starting point – https://lnkd.in/gQAkxujH
See my LinkedIn post on this topic
