India Unveils Groundbreaking Bioeconomy Policy: A Milestone Towards Viksit Bharat @2047

New Delhi: Union Minister of State for Science & Technology, Dr. Jitendra Singh, formally launched the new Bioeconomy policy at L Media Centre today, hailing it as a transformative step for India’s future industrial landscape. The newly approved BioE3 policy, backed by Prime Minister Narendra Modi and the Union Cabinet, aims to position India as a global leader in biomanufacturing while aligning with national initiatives like the ‘Net Zero’ carbon economy and Mission LiFE (Lifestyle for Environment).

Speaking at the release ceremony, Dr. Singh described the policy as a “game changer” for India’s vision of a developed nation by 2047, remarking, “BioE3 will prove to be a milestone not only for the bioeconomy but also for Viksit Bharat @2047.” He emphasized India’s rise as a global biotech powerhouse and lauded PM Modi for championing this revolutionary shift.

The policy, focused on “Fostering High-Performance Biomanufacturing,” will have far-reaching impacts across critical sectors such as food, energy, and healthcare. Dr. Singh outlined the six core themes of the BioE3 policy:

1. Bio-based chemicals and enzymes,
2. Functional foods and smart proteins,
3. Precision biotherapeutics,
4. Climate-resilient agriculture,
5. Carbon capture and utilization, and
6. Futuristic marine and space research.

The Minister highlighted India’s unique bioresources, pointing to the country’s vast biodiversity and the strategic advantage provided by the 7,500 km coastline and the Himalayas. He noted the launch of the Deep Sea Mission to explore marine biodiversity, marking a significant step in harnessing untapped bioresources.

Reflecting on India’s rapid progress, Dr. Singh remarked that the country’s bioeconomy had surged from $10 billion in 2014 to over $130 billion in 2024, with ambitious projections to reach $300 billion by 2030. “The IT revolution was West-driven; the Biotechnology revolution will be India-driven,” he stated, emphasizing the role of bio-manufacturing and bio-foundries in fueling India’s “Green Growth.”

The Public-Private Partnership (PPP) model will be a cornerstone of the policy’s implementation, incentivizing industries to foster employment generation and drive innovation in biotechnology. Dr. Singh credited PM Modi’s policy shift for bringing biotechnology research and startups to the forefront, further noting that now is the “best time for biotechnology in India.”

Dr. Rajesh Gokhale, Secretary of the Department of Biotechnology, and Dr. V.K. Saraswat, Member (S&T) of NITI Aayog, were also present at the event, underscoring the significance of the BioE3 policy for India’s future growth and development.