STATE TIMES NEWS
NEW DELHI: Union Minister for Science and Technology, Dr. Jitendra Singh, informed the Lok Sabha about the launch of the country’s new Bioeconomy policy, titled “BioE3”.
The objective of the BioE3 Policy is to establish a framework that promotes the adoption of advanced technologies, aligning research innovation for the growth of biomanufacturing in India, he said.
“This policy aims to revolutionize the biomanufacturing process to enhance efficiency, sustainability, and product quality, while also accelerating the development and production of bio-based high-value products,” Dr. Jitendra said adding that the BioE3 Policy is closely aligned with India’s Green Growth vision, outlined in the Union Budget 2023-24, and complements the Prime Minister’s call for Lifestyle for Environment (LiFE).
“It also aligns with the broader goal of achieving a Net-Zero carbon economy. The biomanufacturing initiative is part of the Government’s interim budget for 2024-25, focusing on setting up Biofoundries and Biomanufacturing Hubs to support this ambitious growth trajectory,” Dr. Jitendra said.
Dr. Singh highlighted the remarkable achievements of India’s bioeconomy over the past decade. As of December 2023, bioeconomy contributed 4.25% to India’s GDP, valued at $3.55 trillion. From 2014 to 2023, India’s bioeconomy grew from $10 billion to $151 billion, surpassing the projected target for 2025. Furthermore, the number of biotech startups in India surged from 50 in 2014 to 8,531 in 2023.
The Minister also discussed a joint call issued by the Department of Biotechnology (DBT) and the Biotechnology Industry Research Assistance Council (BIRAC), inviting proposals for setting up “BioEnablers” – Biofoundries and Biomanufacturing Hubs across the country. These hubs will serve as key facilities for advancing the development and scale-up of bio-based technologies.
In addition, the policy will establish Bio-AI Intelligence Hubs, aimed at fostering data-driven research, AI-powered analytics, and predictive technologies for biomanufacturing. These hubs will also provide training and internship opportunities to build a skilled workforce, essential for advancing India’s biomanufacturing sector.
