The bioeconomy in India has grown at an astounding rate, from USD 10 billion in 2014 to over USD 130 billion in 2024. By 2030, the nation’s GDP is expected to reach USD 300 billion, representing a substantial advancement in economic growth. Dr. Jitendra Singh, Union Minister of State for Science and Technology, emphasized this quick growth when he announced the BioE3 policy at the L Media Center in New Delhi and commended the industry’s accomplishments.
Dr. Singh highlighted how the bioeconomy in India has advanced remarkably, crediting Prime Minister Narendra Modi’s visionary leadership for the change. According to him, the BioE3 strategy is a significant step toward achieving the goal of “Viksit Bharat @2047” (Developed India by 2047) and a turning point for the bioeconomy. According to Singh, the BioE3 policy would transform a number of industries, including food, energy, and health, in addition to securing India’s place as the world’s leader in biotech.
The Union Cabinet has approved the BioE3 policy, which aims to promote high-performance biomanufacturing. It is in line with national programs that emphasize environmental responsibility and sustainability, like Mission LiFE (Lifestyle for Environment) and the “Net Zero” carbon economy. Singh stated that the program would have a significant impact on important areas like healthcare improvements, energy sustainability, and food security.
The BioE3 policy encompasses six thematic areas:
Bio-Based Chemicals and Enzymes: centered on creating environmentally friendly substitutes for conventional chemicals and utilizing biological catalysts to improve industrial processes.
The goal of functional foods and smart proteins is to progress the creation of nutrient-dense foods and novel proteins that enhance nutritional quality and health outcomes.
Precision Biotherapeutics: This field focuses on developing tailored treatments to accurately and successfully treat a range of illnesses.
The goal of climate-resilient agriculture is to create farming methods that can survive the effects of climate change while maintaining environmental sustainability and food security.
Carbon Capture and Utilization: aims to reduce the consequences of climate change by focusing on technology for capturing and reusing carbon dioxide.
In order to discover new horizons and applications, futuristic marine and space research invests in state-of-the-art studies in marine biology and space sciences.
The declaration made by Dr. Singh highlights India’s goal of leading the world in biotech innovation. The BioE3 policy is viewed as a vital component in maximizing biotechnology’s potential to promote sustainable development and improve human well-being. The policy is anticipated to have a major impact on India’s biotech industry growth trajectory and worldwide status by tackling important areas of economic and environmental concern.
SOURCE :
TIMES OF INDIA
