The approval of the BioE3 Policy by the Union Cabinet is a big plus for India’s aspiration to assume the global high chair on biotechnology leadership. The policy aims at high performance bio-manufacturing and accelerating the pace of technology development and its commercialization in various thematic areas. This will accelerate the development and commercialisation of technology resulting to establishment of Bio-manufacturing & Bio-AI hubs and Bio-foundry. In this way, the policy addresses the green growth notion of the bio-economy which allows for increasing skills within the populations in India and creation of jobs opportunities.
Allowing for priority on regenerative bio-economy models, BioE3 aims at bringing about development while creating business opportunities for the people particularly in the tier-II and tier-III cities. The policy aims at addressing the six key themes of bio based chemicals and biocatalysts, functional foods and smart proteins, precision biomedicine, sustainable agriculture, carbon capture and utilization and advanced marine as well as outer space endeavours, which can cut across many of the above areas and shows India’s appetite for solving global issues through innovation.
As Dr. Jitendra Singh, Union Minister of Science and Technology has aptly remarked – “the world will remember India as the one country in every nation that will lead in the new Biotech Boom”. There are considerable effects of the BioE3 policy on India’s economy. Projected GDP growth attributable to this sector is estimated at 5-6% by the year 2030, the bio-economy is expected to reach ₹ 24000 billion in that year. This growth will be propelled by the construction of bio-manufacturing centres, which will create jobs as well as capitalize on the resources that India has.
Not only does the policy aim for these economic benefits, but it has a feature of sustainability, which is in line with the aim of India becoming a net zero-carbon emitter and prevents climate change impact. By changing over to the biofuel-based economy, India will be able to cut down on the use of fossil fuels and assist in developing sustainably.
It is new and dynamic a promise made by the authority is bent on marine and space research oriented towards the future under the BioE3 policy. There is a strong emphasis on such aspects of research and therefore India can give leadership in technology development to these areas.
To achieve this goal, what is necessary is to improve this mechanism in a way that it encourages the engagement of the private sector through a Public-Private Participation (PPP). Such growth should also enhance the potential for creation of further jobs.
The BioE3 policy is elaborated with the outlook aimed at achieving the most critical problems and possibilities of development within the biotechnology industry in India. It Promotes innovation and sustainability and creates jobs and hence it can make India a superpower in Biotechnology. This could help propel India to reach its vision of Viksit Bharat @2047 in which the nation is developed.

SYED HASAN ZIA RIZVI

University/College name : CSIR-NIScPR