“The new Bioeconomy policy rolled out by the Modi Govt is set to place India as a global leader in the years to come”, said Union Minister Dr. Jitendra Singh while briefing the media about the recent Union Cabinet decision on the ambitious BioE3 (Biotechnology for Economy, Employment, and Environment) Policy, heralding a transformative shift in India’s manufacturing sector.
As India emerges as a Global Biotech Powerhouse, said Dr Jitendra Singh, Prime Minister Narendra Modi will be hailed across the world as the champion of new Biotech Boom, that promises to boost the economy, innovation, jobs, and environmental commitments.
The Science and Technology Minister, Dr. Jitendra Singh hailed PM Narendra Modi’s visionary leadership for spearheading a forward-looking policy that aims to pivot from traditional consumptive practices to high-performance, regenerative bio manufacturing, marking a significant step towards a cleaner, greener, and more prosperous Bharat.
Speaking on the surge in Bio economy, 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 “India’s bio economy has experienced remarkable growth, skyrocketing from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030. This surge reflects India’s robust economic growth. The recent policy will reignite growth spirits and position India as a potential leader in the 4th industrial revolution, he said.
Dr. Jitendra Singh said “The BioE3 Policy is set to accelerate this growth trajectory, making substantial contributions to the ‘Make in India’ initiative by fostering the development of bio-based products with minimal carbon footprints.”
According to Dr. Jitendra Singh the BioE3 Policy is designed to address critical global challenges such as climate change and depleting non-renewable resources by: 1) Facilitating the shift from chemical-based industries to sustainable bio-based models 2) Promoting a circular bio economy 3) Achieving net-zero carbon emissions through innovative waste utilization from biomass, landfills, and greenhouse gases and 4) Encouraging the development of bio-based products and expanding job creation.
Highlighting the key features, Dr. Jitendra Singh said the policy encourages entrepreneurship across diverse sectors, including bio-based chemicals, smart proteins, precision bio therapeutics, climate-resilient agriculture, and carbon capture.
It establishes cutting-edge bio manufacturing facilities, bio foundry clusters, and Bio-AI hubs, he added .
(Source: PIB)
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