<p>The biological sciences, especially biotechnology-based value-added products and services, are key players in sustainable revenue generation and influence the global bioeconomy. The study aims to understand the frameworks for historical advancements, the scope, and the emerging challenges faced by biotechnology-driven industries. Biotechnology-driven therapeutics are gaining attention due to the roles of primary and secondary metabolites, antibiotics, and antiviral vaccines in supporting human health and societal advancement. Drawing on a conceptual outline linking raw biological materials to value-added bioproducts, this study highlights bio-based resources as a cornerstone of contemporary industry and underscores their growing relevance. The review emphasizes the Indian bioeconomy, highlighting the growing significance of biomass, biotechnological innovations, and bio-derived products across multiple sectors, including biofuel production (alcohol, gasohol), enzyme-based cleaning agents, genetically modified (GM) crops, pulp and paper processing, and pharmaceutical manufacturing. This comprehensive study also delineates the economic differentiation of bioresources from conventional resources. It illustrates this with historical examples, such as the important role of India’s jute industry in shaping its national economy during the 1920s and 1930s. Biomanufacturing in India has grown steadily, with strong capabilities in vaccines, biosimilars, and large-scale fermentation-based production. However, while progress is notable, gaps remain in advanced infrastructure, scale-up capacity, and high-end innovation. In conclusion, the emerging biotechnology sectors involved in vaccine, nutraceutical, pharmaceutical, biomolecule, and personalized therapeutic production were examined, offering insights into their roles in value addition and national income generation.</p>