New Delhi: The Bioeconomy for Economy, Employment, and Environment (BioE3) Policy of India is set to stimulate the country’s bioeconomy, which is predicted to touch $300 billion by 2030. This policy aims to make India a global leader in the field of biotechnology and innovation, thereby contributing to the country’s economic growth and sustainable development, a PIB press release stated.
The BioE3 Policy has been designed to address the challenges faced by the country’s bioeconomy, including climate change and depleting non-renewable resources. It aims to promote a circular bio economy by facilitating the shift from chemical-based industries to sustainable bio-based models. The policy also seeks to achieve net-zero carbon emissions through innovative waste utilization from biomass, landfills, and greenhouse gases.
The BioE3 Policy will provide incentives to promote the development of bio-based products and expand employment opportunities. It is expected to create new jobs in areas such as bio-based chemicals, smart proteins, precision bio therapeutics, climate-resilient agriculture, and carbon capture. The policy also proposes to set up of bio-AI hubs, which will serve as centralized facilities for the production, development, and commercialization of bio-based products.
The BioE3 Policy has the potential to drive innovation and promote sustainable development in India. By investing in the country’s economy, environment, and employment, this policy will help to realize India’s vision of a “Developed India.”