Dr. Jitendra Singh, the minister of state in the Ministry of Science and Technology in India, has revealed a bold vision that would enable this country to attain a bioeconomy target of US$300 billion by 2030 by utilizing the BioE3 Policy and ensuring inclusive contributions. Bioeconomy merges biotechnology in areas such as agriculture, health, industry and energy thus aids economic growth, sustainability and innovation. Starting with the climate-resilient crops and even going further to ethanol blending, bio-based solutions have been propelling India towards green and digital transformation. Nevertheless, regulatory gaps, lack of R&D and bioethical issues are all problems still present. This vision can only be accomplished by reinforcing policy, financing as well as human capital.

Context

  • Bioeconomy in India has become one of the sharpest striking pillars of the Indian vision which is environmental, self-reliant, and scientifically innovative growth. 
  • As the demand in the world market for biotech-driven solutions is increasing, India aims at growing its bioeconomy to the level of 300 billion dollars by 2030, which will be 165.7 billion dollars in 2024 and only 10 billion dollars in 2014. 
  • This transformation signifies the move of India towards value-based biotechnology ecosystem as compared to volume-based.

Key Highlights for RAS Mains

What is Bioeconomy?

  • Bioeconomy can be defined as production, use, and conservation of biological resources, such as knowledge and innovation, in the generation of sustainable goods and services across all sectors of the economy.

 

Key Sectors in India’s Bioeconomy

Sector

Contribution / Potential Use

Biopharma

Vaccines, biosimilars, diagnostics

Bio Agriculture

GM crops, biofertilizers, livestock genomics

Bioindustrial

Bioplastics, enzymes, biofuels

Bioenergy

Ethanol blending, biodiesel

Bioinformatics

Genomics, big data in medicine and agriculture

 

What is the purpose of India Bioeconomy?

  • Economic Growth
    • In 2024, GDP added 4.25 percent in bioeconomy.
    • There are more than 10, 000 of biotech startups in India nowadays
  • Employment Generation
    • This 35 million job creation is expected to be a reality by 2030
  • Global Pharmacy Hub
    • 3rd largest pharmaceutical manufacturer (in volume)
    • Manufactures 65 percent of the world vaccines
  • Energy Security
    • Target discussion (15): Ethanol blend 15 percent in 2024 (15) going to 20 percent by 2025
    • Reduces the importation of oil and minimizes the production of CO 2 emissions.
  • Environmental Benefits
    • Biofertilizers, bioplastics are encouragers of circular economy
    • GM crops make agriculture more resistant to the climate

Flagship Policies and Schemes Supporting Bioeconomy

Policy / Scheme

Objective

BioE3 Policy 2024

Focuses on biofoundries, AI-bio hubs, advanced manufacturing

National Biopharma Mission

Develops affordable vaccines, biosimilars

Bio-RIDE Scheme

Boosts entrepreneurship and academia-industry collaboration

Genome India Project

Maps Indian genetic diversity

Biotech-KISAN

Connects scientists with farmers

Biofuel Policy 2018

Promotes use of biofuels in transport and energy

 

Hurdles to the Development of Bioeconomy

  • Regulatory and Policies Loopholes
    • Redundancy of regulation and inter-ministerial unclarity
    • IP enforcement and bio-piracy
  • Low R and D Investments
    • India invests 0.64 percent of GDP in R&D (vs 2 percent in China)
    • Lack of funding to the non pharma biotech industries
  • Infrastructure Deficits
    • Poor genomics data systems
    • Very few bio technology laboratories and testing centers
  • Bioethical Concerns
    • The issue concerning GM crops and their safety, the resistance of the population
    • Inadequate frameworks of bioethics
  • Capital and Skilled Manpower Shortage
    • Shortages of skilled human resource in genomics, bioinformatics, bioengineering

 

Way Forward

  • Policy Regulatory Framework
    • Initiate National Bioeconomy Mission on multi-stakeholder inputs
    • Put in place a one-stop regulatory authority on biotechnology
    • Standardise such laws as the Patent Act and PPVFR Act
  • Increase Research and Development and Innovation
    • Provide tax incentives and funding on research and development and innovation
    • Provide incentives to outcome based funding systems
  • Development of Human Capital
    • Establish universities Biotech Centres of Excellence
    • Put in place a National Bio-Data Repository
  • Biosafety and Ethics
    • Bio-tech product mandate impact assessments
    • Establish bioethics councils; create public awareness programs
  • Build Infrastructure
    • Purchase bio foundries, testing labs, and field research areas
    • Empower supply chains and self-sustenance of raw materials

Conclusion

A visionary target to develop a bioeconomy worth US $300 billion by 2030 is set out by India which envisions development of a sustainable and inclusive innovation driven growth system. Biotechnology is the answer to healthcare, food security, energy independence and action on climate. But this path needs a solid footing by policy, participation of the population, and investment in science and infrastructure. With the accurate application of the BioE3 Policy India is rated to be a world leader of the bio-revolution.


 

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