The Union Cabinet chaired by Shri Narendra Modi has approved the ‘BioE3 (Biotechnology for Economy, Environment and Employment) Policy’ proposed by the Department of Biotechnology. The policy aims to promote high-performance bio-manufacturing in India.
BioE3 policy will prove to be a milestone not only for bio-economy but a game changer for Viksit Bharat @2047
“As India emerges as a Global Biotech Powerhouse, Prime Minister Narendra Modi will be hailed across the world as the champion of new Biotech Boom” says Union Minister Dr. Jitendra Singh
The PPP model will be an intrinsic part of Bioe3 Policy implementation incentivizing the industry to promote employment generation
India’s bio-economy skyrockets from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030: Dr. Singh
“The BioE3 policy will significantly impact various sectors such as food, energy, and health,” the Science and Technology Minister said. He also highlighted six thematic topics which were
1. Bio-based chemicals and enzymes;
2. Functional foods and smart proteins;
3. Precision Biotherapeutics;
4. Climate-friendly agriculture;
5. Carbon capture and its use;
6. Futuristic marine and space research.
Reiterating the success achieved in the space and bio-economy sectors, the Minister underlined that the PPP model will be an intrinsic part of the Bioe3 policy implementation to incentivize industry to boost job creation. The policy is a push towards a green, low-consumption, and self-reliant India and aims to harness global challenges such as climate change, unsustainable patterns of material consumption, and waste generation to bring about sustainable innovation. A primary objective of the initiative taken by the Department of Biotechnology is to encourage the transformation of chemical-based industries into more sustainable bio-based industrial models by promoting a circular economy. The policy focuses on six key sectoral pillars: high-value bio-based chemicals, bio-polymers and enzymes, smart proteins and functional foods, precision bio-medicals, climate resilient agriculture, carbon capture and its utilization, marine and space research.
Other key aspects of the Bio-e3 policy include innovation-driven research and development and entrepreneurship across various thematic sectors to expedite technology commercialization by establishing bio-manufacturing, bio-foundry, and bio-AI hubs. polymers, bio-plastics, bio-In the interim budget presented before the elections, Finance Minister Nirmala Sitharaman had mentioned, “A new scheme of bio-manufacturing and bio-foundry to provide eco-friendly alternatives like biodegradable polymers, bio-plastics, bio-pharmaceuticals and bio agri-inputs”.
Releasing the policy today, Union Science and Technology Minister Dr Jitendra Singh said that the world’s future economy will be largely bio-powered and India has the opportunity to lead the bio-revolution of the 21st century. “Just as the West led the IT-driven industrial revolution of the 1990s, India can lead the next bio-driven revolution because it is in an advantageous position in terms of bio-resources and bio-economy, allowing the West to Couldn’t find happiness.”, Concerned,” he said.
Dr Singh also emphasized that the world will fundamentally change when global economies stop relying on the manufacturing sector and rely more on recycling processes. “The economies of the future will depend on taking what you waste and recycling it appropriately to become more independent domestically.” he said, the Bio-E3 policy is in line with the government’s initiatives of ‘Green Growth’, ‘Net Zero’ Economy, ‘Eco Lifestyle’, Make in India and Self-reliant India. “I am sure that this initiative will proudly contribute to Vision 2047 in the form of a bio-science aspect.”
This policy aims to leverage biotechnology for sustainable growth, with a strong emphasis on agriculture. Here’s how it can help the agriculture sector: Overall, the India Bio-E3 Policy is designed to transform agriculture by integrating advanced biotechnological practices, making it more sustainable, resilient, and economically viable for farmers.