Consider the following statements :
1. India’s bio-economy contributes about 4.25 % to the GDP in India.
2. BioE3 promotes regenerative bio-manufacturing and supports a circular bio-economy aligned with India’s net-zero goals.
Which of the statements given above is/are correct ?

Correct option is C

Statement 1 is correct: India's bio-economy has grown from $10 billion in 2014 to $165.7 billion in 2024, with a target of $300 billion by 2030. The sector contributes 4.25% to GDP with a compound annual growth rate (CAGR) of 17.9% over the past four years.

Statement 2 is correct: BioE3 (Biotechnology for Economy, Environment and Employment):

• Promotes regenerative bio-manufacturing

• Encourages a circular bio-economy

• Aligns biotechnology growth with India’s net-zero and climate goals

• Focuses on sustainable bio-based alternatives in energy, materials, chemicals, agriculture, and health