The Union Cabinet headed by Prime Minister Narendra Modi has approved the BioE3 (Biotechnology for Economy, Environment and Employment) policy aimed at promoting high-performance biomanufacturing in India. The policy aims to promote innovation, accelerate technology development and prioritize sustainable development in the biotechnology sector.
Overall, the policy will further strengthen the government's initiatives such as 'Net Zero' carbon economy and 'Lifestyle for Environment' and accelerate India's path to 'Green Growth' by promoting 'Circular Bioeconomy'. The BioE3 policy will promote and advance a future that is more sustainable, innovative and responsive to global challenges. The policy lays down the bio-vision for a developed India.
The BioE3 policy will provide innovation-driven support to research and development (R&D) and entrepreneurship in thematic areas. The policy will also focus on accelerating technology development and commercialisation through the establishment of biomanufacturing and bio-al hubs and biofoundries.
A key feature of the policy is to prioritise regenerative bioeconomy models that aim to promote green growth. The policy also aims to expand India's skilled workforce, which will accelerate job creation in the biomanufacturing sector.