(MENAFN-IANS) New Delhi, Aug 24 (IANS) The Union Cabinet chaired by Prime Minister Narendra Modi on Saturday approved the Ministry of Biotechnology’s ‘BioE3 (Biotechnology for Economy, Environment and Employment) Policy to Promote High Performance Biomanufacturing’, aimed at accelerating India’s transition towards green growth and a carbon-neutral economy.
The key features of the BioE3 policy include innovation-driven support for research and development and entrepreneurship across the thematic areas. This will accelerate technology development and commercialization through the establishment of biomanufacturing and bio-AI centers and biofoundry. Besides prioritizing regenerative bioeconomy models for green growth, this policy will facilitate expansion of India’s skilled workforce and ensure a surge in job creation, said an official statement released after the meeting.
Overall, this policy will further strengthen the government’s initiatives such as carbon neutral economy and eco-friendly lifestyle and put India on the path of accelerated green growth by promoting circular bioeconomy.
The BioE3 policy will promote and drive a more sustainable, innovative and responsive future to global challenges and sets the bio vision for Viksit Bharat, the statement said.
“Our current era is an opportune time to invest in the industrialization of biology to promote sustainable and circular practices to address some of the critical societal issues – such as climate change mitigation, food security and human health. It is important to build a resilient bioproduction ecosystem in our country to accelerate breakthrough innovations for the development of bio-based products,” the statement said.
High-performance biomanufacturing is the ability to produce products from pharmaceuticals to materials, address challenges in agriculture and food, and promote the production of bio-based products through the integration of advanced biotechnology processes.
To meet national priorities, the BioE3 policy will broadly focus on the following strategic sectors: high-value chemicals, bio-based biopolymers and enzymes, smart proteins and functional foods, precision biotherapeutics, climate-resilient agriculture, carbon sequestration and utilization, and marine and space exploration, the statement added.
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