The BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High Performance Biomanufacturing’ proposed by the Department of Biotechnology has been approved by the Union Cabinet.
About BioE3 Policy
- Themes: The policy will focus on 6 main themes to boost biomanufacturing.
- Bio-based chemicals and enzymes,
- Functional foods and smart proteins
- Precision biotherapeutic
- Climate resilient agriculture
- Carbon capture and its utilisation
- Futuristic marine, and space research.
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- Features:
- Boost innovation: It will provide innovation-driven support to R&D and entrepreneurship across thematic sectors.
- It will accelerate technology development and commercialization by establishing Biomanufacturing & Bio-AI hubs and Biofoundry
- Prioritising regenerative bioeconomy models of growth.
- Create jobs: The policy will facilitate expansion of India’s skilled workforce and provide a surge in job creation.
- Benefits:
- Circular Bioeconomy: The Policy will strengthen initiatives such as ‘Net Zero’ carbon economy & Project LIFE (‘Lifestyle for Environment) and will promote India on a path of accelerated Green Growth
- Promote the Goal of Viksit Bharat: It will realise a future which is sustainable, innovative, and responsive to global challenges and lays down the Bio-vision for Viksit Bharat.
- The policy will build a resilient biomanufacturing ecosystem which will accelerate cutting-edge innovations for developing bio-based products.
About Biotechnology
- Biotechnology is the use of advances in molecular biology for applications in human and animal health, agriculture, environment, and specialty biochemical manufacturing.
- It is an interdisciplinary frontier between biology, engineering, medicine and plant science
- India is among the Top 12 destinations for biotechnology worldwide and 3rd largest destination for biotechnology in Asia Pacific.
- Biotech Economy: India’s BioEconomy is valued at an estimated $130 Bn in the year 2024 and is identified as a sunrise sector
- Category: India’s Biotechnology sector is categorised into Biopharmaceuticals, Bio agriculture, Bio IT and Bio Services.
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August 26, 2024
