The union cabinet chaired by Prime Minister Narendra Modi recently approved the Bio E3 policy. Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances, and Pensions, Dr. Jitendra Singh formally released a new bioeconomy policy at the national media center on 31st August 2024. For the release and media interaction, Dr. Rajesh Gokhale, Secretary Department of Bio-Technology, and Dr. V.K. Saraswat, Member (S&T) Niti Ayog, were also present.
During the press release, he was quoted as saying “As India emerges as a global biotech powerhouse, Prime Minister Narendra Modi will be hailed across the world as the champion of the new biotech boom." He also pointed out that biotechnology research and bio startups have been at the center point after a policy shift under Prime Minister Shri Narendra Modi.
According to the media sources, the Honorable Minister of the State (IC) of the Ministry of Science and Technology, Dr. Jitendra Singh, said that Bharat has an innovative, competitive, and rapidly growing biotech industry.
While addressing, he also outlined the six themes, which were
Bio-based chemicals and enzymes;
Functional foods and smart proteins;
Precision biotherapeutics;
climate-resilient agriculture;
Carbon capture and its utilization;
Futuristic marine and space research.
Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances, and Pensions, Dr. Jitendra Singh also said that “BioE3 policy will have a momentous impact on various sectors like food, energy, and health, and BioE3 policy will prove to be a milestone not only for the bio-economy but a game changer for Viksit Bharat @2047.”
Highlighting the resources India has, Dr. Jitendra 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.”
He stressed the fact that the bioeconomy of India has reached from $10 billion in 2014 to over $130 billion in 2024 and by 2030 is going to be $300 billion and mentioned that while the West drove the IT revolution, the Indians will drive the biotechnology revolution.
The PPP model will play an important role in the implementation of the BioE3 policy by providing incentives to the industry sector to promote employment generation, the minister said, reiterating the success achieved in space and bioeconomy.
In addition, the policy will also take the initiatives for climate-resilient agriculture and futuristic marine and space research.
(Input from various media sources)
(Rehash/Dr. Siddiqua Parveen/MSM)
