In a significant move to strengthen India’s bioeconomy, Union Minister for Science and Technology, Dr. Jitendra Singh, announced the launch of the new “BioE3” policy in the Lok Sabha. The policy aims to provide a comprehensive framework to foster the adoption of advanced technologies and innovative research, promoting biomanufacturing across various sectors. The core objective is to enhance efficiency, sustainability, and product quality, while accelerating the development and production of bio-based high-value products.
Bioeconomy Growth: India’s Achievements Over the Past Decade
India’s bioeconomy has witnessed remarkable growth in the last ten years. As of December 2023, the bioeconomy contributes 4.25% to India’s $3.55 trillion GDP. From a modest $10 billion in 2014, the sector has surged to $151 billion in 2023, surpassing the target set for 2025. The number of biotech startups has also skyrocketed, increasing from just 50 in 2014 to an impressive 8,531 in 2023, highlighting the sector’s growing innovation and entrepreneurship.
DBT-BIRAC Call for Proposals to Set Up Bio Enablers
The Department of Biotechnology (DBT) and Biotechnology Industry Research Assistance Council (BIRAC) have issued a joint call for proposals to establish BioEnablers such as Biofoundries and Biomanufacturing Hubs. These initiatives aim to bolster the infrastructure needed for scaling up biomanufacturing technologies and fostering the production of bio-based products across India. Proposals are currently under evaluation.
BioE3 Policy to Accelerate Biomanufacturing Innovation
The “BioE3” policy seeks to accelerate the development of bio-based products through the creation of Bio-Artificial Intelligence (Bio-AI) Hubs, Biofoundries, and Biomanufacturing Hubs. These hubs will leverage AI-powered analytics and data-driven research to drive innovation and scale up biomanufacturing processes. Key performance indicators have been identified to measure the success of these hubs, ensuring the effective implementation of the policy across the country.
