Written by : Jayati Dubey
August 26, 2024
One of the key goals of the BioE3 policy is to support the expansion of India's skilled workforce and create a surge in job opportunities.
The Union Cabinet has approved the 'BioE3' (Biotechnology for Economy, Environment, and Employment) policy, a strategic initiative aimed at advancing high-performance biomanufacturing under the Department of Biotechnology.
Announced on Saturday, this policy is designed to promote innovation-driven research, development, and entrepreneurship across various thematic sectors in biotechnology.
Information and Broadcasting Minister Ashwini Vaishnaw stated that the BioE3 policy will expedite technology development and commercialization by establishing biomanufacturing hubs, bio-AI hubs, and biofoundries.
These initiatives are expected to create a robust ecosystem for biotechnology in India, driving economic growth and fostering sustainable practices.
One of the key goals of the BioE3 policy is to support the expansion of India's skilled workforce and create a surge in job opportunities.
The policy emphasizes the development of regenerative bioeconomy models, aligning with India's broader goals of achieving a 'Net Zero' carbon economy and promoting sustainable lifestyles through the 'Lifestyle for Environment' initiative.
An official statement highlighted that the BioE3 policy will strengthen the government's efforts toward accelerated green growth by promoting a circular bioeconomy.
"The BioE3 Policy will foster and advance a future that is more sustainable, innovative, and responsive to global challenges and lays down the Bio-vision for Viksit Bharat," the statement said.
This approach aims to address critical societal challenges such as climate change mitigation, food security, and human health through sustainable and circular practices.
The policy outlines several strategic sectors that will be prioritized under the BioE3 initiative.
These include high-value bio-based chemicals, biopolymers, enzymes, smart proteins, functional foods, precision biotherapeutics, climate-resilient agriculture, carbon capture and utilization, as well as marine and space research.
The goal is to build a resilient biomanufacturing ecosystem that can accelerate cutting-edge innovations and produce bio-based products that are essential for addressing national priorities.
In addition to the BioE3 policy, the Union Cabinet also approved the continuation of three umbrella schemes under the Department of Science and Technology, now unified into a central sector scheme called 'Vigyan Dhara.'
With a proposed outlay of INR 10,579 Cr during the 15th Finance Commission period from 2021-22 to 2025-26, Vigyan Dhara aims to support science and technology institutional and human capacity building, research and development, and innovation, technology development, and deployment.
Minister Vaishnaw emphasized that these initiatives mark a significant step towards fostering a sustainable, innovative, and globally responsive future for India.