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Tuesday, November 26, 2024

Jitendra Singh hails BioE3 policy as a game changer for India’s global leadership

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New Delhi

Dr. Jitendra Singh, Union Minister of State for Science and Technology, hailed the new BioE3 (Biotechnology for Economy, Environment, and Employment) policy as a transformative development that will position India as a global leader. Approved by the Union Cabinet under Prime Minister Narendra Modi, the policy aims to advance high-performance biomanufacturing and propel India towards green growth and a Net Zero carbon economy.

Singh emphasized that this policy represents a major shift from traditional manufacturing to regenerative biomanufacturing, promising significant benefits for the economy, innovation, job creation, and environmental sustainability. He highlighted the rapid growth of India’s bio-economy, which has surged from $10 billion in 2014 to over $130 billion in 2024, with projections reaching $300 billion by 2030. This growth underscores India’s potential leadership in the Fourth Industrial Revolution.

The BioE3 Policy is expected to support the ‘Make in India’ initiative by developing bio-based products with lower carbon footprints, addressing global issues such as climate change, and promoting a circular bio-economy. Singh noted that it will also enhance large-scale manufacturing of products like mRNA vaccines, integrate AI with biological data for innovation, and create significant job opportunities, especially in tier-II and tier-III cities.

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