• UGI USER
  • Sep 02, 2024
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INDIA HAS RECENTLY RELEASED THE BIOE3 POLICY WHICH INTENDS TO BRING REVOLUTION IN BIOTECHNOLOGY.

Why in the news?

BioE3 has been initiated by Dr Jitendra Singh to make India as a Hub for Bio tech to become a developed nation by 2047.

source:drugscontrol.org

About the Policy Release and Vision:

  • Union Minister Dr. Jitendra Singh has launched the BioE3 policy, and government framed biography abounding with ambition to actualize India as the apostle of the Industrial Revolution.
  • The policy is in consonance with the development policies such as ‘Net Zero’ and Mission LiFE that has been formulated by the Union Cabinet.
  • It is envisaged that it would be a tool for developing India by the year

Policy Highlights and Impact:

  • The BioE3 policy focuses on six themes: sustainable bio-based chemicals and material, functional food, precision bio-pharmaceuticals including therapeutic, climate smart agriculture, carbon dioxide capture and sequestration and futuristic marine/ space exploration.
  • The PPP (Public Private Partnership) model is critical to policy and of critical importance to the policy implementation matrix given its emphasis on industry participation and employment creation.

Status of India’s Bioeconomy Growth:

  • Global Ranking: According to data, India is ranked among the top 12 biotechnology destinations across the world and the 3rd in the Asia-Pacific.
  • Bioeconomy Value: The bioeconomy of India achieved a size of USD 130 billion in 2024.
  • Economic Role: Biotechnology contributes greatly in the vision of India to become a 5 trillion dollar economy by the year 2024.
  • Biopharmaceuticals: India for instance is the world’s biggest supplier of generic medicines and vaccines and is also a pioneering producer of biosimilars.
  • Bio-Agriculture: India ranks 5th in the world for its amount of organic agricultural land and has a good scope for an increase of this market.
  • Bio-Industrial & BioServices: Competitive especially in areas of contract manufacturing, research and clinical trial, with several plants that have been approved by the US FDA.
Key Objectives and Impact of BioE3 Policy and Vigyan Dhara:

BioE3 Policy Focus Areas:

  • Authorised biomolecules and bio-materials, sharp proteins, exact bio-pharmaceutics, atmosphere safe agriculture, carbon dioxide trapping, and marine/space molecular research.

Vigyan Dhara Scheme:

  • Combined the features of three Science Ministry schemes, and had ₹10,579 crore budget.
  • Human Capital Investments & Institutional Capital Development: Emphasis is placed in institutional technology infrastructure, research and development, education and international cooperation.
  • Supports the practise of internships, fellowships, and parity in science for women.

Impact:

  • BioE3 and Vigyan Dhara will build innovative solutions, boost R&D capacities and talent pool and place India as a global biotech hub.

Government Initiatives in Biotechnology:

  • FDI Policies: Min 100% FDI allowed through automatic route for both greenfield pharma sector while certain form of route will be available for brownfield investment.
  • National Biotechnology Strategy: The mission of transforming India into a USD 150 billion bioeconomy by the year 2025 through improvement of research, innovation and industrial development.
  • Biotech-KISAN Hubs: 51 hubs funded to help farmers to meet scientists: Ministry focuses on sustainable agriculture and new agri-technologies.
  • Waste to Wealth: Setting up of 500 new plants- GOBARdhan scheme, Farm Investment of INR 10,000 crore.
  • GenomeIndia Project: Sanger sequencing of genomes of representative Indians for understanding the genetic variation.
  • Biotechnology Strategy: The first ever National Biotechnology Development Strategy was formulated in the year 2007.

Associated Article:

https://universalinstitutions.com/indias-bioeconomy-policy-a-global-vision/