NITI Aayog charts 2047 roadmap to expand India's Bioeconomy to $2.6T

India can scale its bioeconomy to $691 billion by 2035 and $2.6 trillion by 2047 with decisive, mission-mode execution, according to a report by the NITI Aayog.

Bioeconomy is an economic model that uses renewable biological materials to produce food, energy, and industrial goods.

In a bid to realise India's $2.6 trillion BioEconomy vision by 2047, the country must move from fragmented initiatives to a coordinated national execution architecture, the Aayog in a report titled 'Roadmap for Building India as a Leading BioEconomy Powerhouse by 2035' said.

"With decisive, mission-mode execution, India can scale its BioEconomy to $691 billion by 2035 and $2.6 trillion by 2047, creating over 30 million high-value jobs and positioning the country among the world's top three biotechnology powers," it said.

The Aayog stressed that mission-mode national BioMissions to scale priority sectors will be necessary to realise India's $2.6 trillion BioEconomy vision by 2047.