Answer: Industrial sector
Notes: India’s bioeconomy is valued at over $165 billion, contributing 4.2% of GDP, as per the India BioEconomy Report 2024. The sector is projected to grow to $300 billion by 2030 and $1 trillion by 2047. Bioeconomy involves using biological resources for industrial production, including biofuels, bioplastics, and pharmaceuticals. The industrial sector contributed $78 billion (47%), while pharma contributed 35%, led by vaccines. Maharashtra, Karnataka, Telangana, Gujarat, and Andhra Pradesh generated over two-thirds of bioeconomy value. Eastern and Northeastern regions contributed less than 6%. India BioEconomy Report 2024 is released by Department of Biotechnology.
