Exploring the Bio-E3 Policy: Bio-Revolution in India's Bio Economy

The Bio-E3 policy marks a crucial step in positioning India as a global bio-economy leader and is set to spark a bio-revolution in India similar to the IT revolution in the western world, Union minister Jitendra Singh said on Thursday.

The Bio-E3 policy was formally launched last month and aims to facilitate sustainable and efficient utilisation of biological resources for innovation, scaling-up and bio-manufacturing of specialty chemicals, enzymes, bio-polymers, functional foods, smart proteins, veterinary products, precision bio-therapeutics and services.

Biotechnology for Economy, Employment, and Environment

Speaking at the Global Bio-India Summit 2024, Singh said the policy focuses on biotechnology for economy, employment, and the environment. This policy is poised to usher in a bio-revolution akin to the IT revolution in the western world, supporting areas such as bio-based chemicals, climate-resilient agriculture, and carbon capture.

Creating Biotech Hubs and Driving Innovation

Singh outlined the creation of biotech hubs across India, which will foster collaboration between startups and established companies, bridging the gap between research and commercial manufacturing. These hubs are expected to generate employment, particularly in tier two and tier three cities.

Future Growth of India's Biotech Industry

He projected a significant growth trajectory for India's biotech industry, which has expanded from $10 billion in 2014 to $100 billion in 2020, with expectations to reach $300 billion by 2030.

In conclusion, this initiative is expected to enhance India’s position in the global bio-economy, driving sustainable solutions for healthcare and environmental challenges.