- BioE3 policy will a prove to a milestone not only for bio economy but a game changer for Viksit Bharat @2047“As India emerges as a Global Biotech Powerhouse, Prime Minister Narendra Modi will be hailed across the world as the champion of new Biotech Boom” says Union Minister Dr. Jitendra SinghPPP model will be an intrinsic part of Bioe3 Policy implementation incentivizing industry to promote employment generationIndia's bio economy skyrockets from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030: Dr. Singh
NEW DELHI: Formally releasing the pathbreaking new Bioeconomy policy at L Media Centre here today, Union Minister of State (I/C) Science & Technology, Dr. Jitendra Singh hailed India as the global torchbearer of the next Industrial Revolution. He thanked PM Sh Narendra Modi for his support. “BioE3 policy will prove to be a milestone not only for the bio economy but a game changer for Viksit Bharat @2047” said Dr. Jitendra Singh.
The Bio E3 policy was recently approved by the Union Cabinet chaired by Prime Minister Narendra Modi. The policy is aimed at ‘Fostering High Performance Biomanufacturing’ aligned with National initiatives of the government of India such as ‘Net Zero’ carbon economy and Mission LiFE( Lifestyle for environment).
Addressing the release ceremony, 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 said “As India emerges as a Global Biotech Powerhouse, Prime Minister Narendra Modi will be hailed across the world as the champion of new Biotech Boom” going further he emphasised that Bharat has an innovative, competitive and a rapidly growing biotech industry.
The Science and Technology Minister said “BioE3 policy will have a momentous impact on various sectors like food, energy and health”. He also highlighted the six thematic themes which were 1. Bio-based chemicals and enzymes; 2. Functional foods and Smart proteins; 3. Precision biotherapeutics; 4. Climate resilient agriculture; 5. Carbon capture and its utilisation; 6. Futuristic marine and space research.
Reiterating the success achieved in Space and bio-economy sectors the Minister underscored that the PPP model will be an intrinsic part of Bioe3 Policy implementation incentivizing industry to promote employment generation. According to Dr. Jitendra Singh “Bio-manufacturing and Bio-foundry will drive India’s future bioeconomy and promote "Green Growth". He categorically remarked that “After a policy shift under Prime Minister Shri Narendra Modi, Biotechnology research and Bio StartUps are prioritised and have taken centre stage”.
“It is the best time for Bio-Technology, highlighting the progress of biotechnology in India”. He also emphasised India ‘s resources and 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 kms long coastline and last year we launched the Deep Sea Mission which is going to dig the biodiversity beneath the seas,” he said.
Recalling the achievements of the last 10 years, India's bio economy skyrocketed from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030, he reaffirmed that Biotechnology and huge potential for driving the next revolution of 21st Generation. He said “ IT revolution was West driven the BioTechnology revolution will be India Driven” Dr. Rajesh Gokhale, Secretary Department OF Bio-Technology and Dr. V.K Saraswat, Member (S&T) Niti Ayog were also present for the release and media interaction.
