The Union Cabinet approved the continuation of the Bio-RIDE scheme to foster innovation and entrepreneurship in biotechnology, aiming for a $300 billion bioeconomy by 2030.
The scheme has achieved milestones including India's first human gene therapy for hemophilia, drought-resistant crops, and the launch of 10,000 whole genome samples for research.
Government initiatives have supported over 3,000 startups, with the bioeconomy growing from $10B in 2014 to $195B in 2025, contributing nearly 5% to GDP.