Ministry of Science and Technology releases new BioE3 policy
The policy is aimed at ‘Fostering High-Performance Biomanufacturing’ aligned with National initiatives of the government of India such as ‘Net Zero’ carbon economy and Mission LiFE
Formally releasing the new Bioeconomy policy at the National Media Centre, Union Minister of State (I/C) Science and Technology, Dr Jitendra Singh hailed India as the global torchbearer of the next Industrial Revolution. “BioE3 policy will prove to be a milestone not only for the bio-economy but a game changer for Viksit Bharat @2047.”
The Bio E3 policy was recently approved by the Union Cabinet chaired by Prime Minister Narendra Modi. The policy is aimed at ‘Fostering High-Performance Biomanufacturing’ aligned with National initiatives of the government of India such as the ‘Net Zero’ carbon economy and Mission LiFE ( Lifestyle for environment).
Addressing the release ceremony, Singh said that the BioE3 policy will have a momentous impact on various sectors like food, energy and health. Bio-based chemicals and enzymes, functional foods and smart proteins, precision biotherapeutics, and carbon capture and its utilisation are four out of the six themes highlighted by Singh, under this policy.
According to Singh, Bio-manufacturing and Bio-foundry will drive India’s future bioeconomy and promote “Green Growth”. He categorically remarked, “After a policy shift under Prime Minister Narendra Modi, biotechnology research and bio start-ups are prioritised and have taken centre stage”.
“It is the best time for biotechnology, highlighting the progress of biotechnology in India”. He also emphasised India‘s resources and said, “India has a huge wealth of bioresources, an unsaturated resource waiting to be harnessed and an advantage in Biotechnology especially due to the vast biodiversity and the unique bioresources in the Himalayas. Then there is the 7,500 km long coastline and last year we launched the Deep Sea Mission which is going to dig the biodiversity beneath the seas.”
Recalling the achievements of the last 10 years, India’s bio-economy skyrocketed from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030, he reaffirmed that biotechnology and huge potential for driving the next revolution of 21st century.
Reiterating the success achieved in the Space and bio-economy sectors Singh underscored that the PPP model will be an intrinsic part of Bioe3 Policy implementation incentivising industry to promote employment generation.
The policy will also undertake initiatives for climate-resilient agriculture and futuristic marine and space research.
Dr Rajesh Gokhale, Secretary, Department of Bio-Technology and Dr VK Saraswat, Member (S&T) Niti Ayog were also present for the release and media interaction.
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