The Union Cabinet under Prime Minister Narendra Modi’s chairmanship on Saturday approved the “BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High Performance Bio-manufacturing.”’

Information and Broadcasting Minister Ashwini Vaishnaw told newspersons that BioE3 will bring a big bio-revolution in the coming future, and will be a big source of employment, technology development, and will have consumer, industrial applications too.

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Biotechnology will meet day-to-day needs. Food is a big issue, Mr Vaishnaw said, and there are requirements of bio proteins. There is also a need to save land resources from pressure.

Proposed by the Department of Biotechnology, the policy includes innovation-driven support to R&D and entrepreneurship across thematic sectors. This will accelerate technology development and commercialization by establishing Biomanufacturing & Bio-AI hubs and Biofoundry.

Along with prioritizing regenerative bioeconomy models of green growth, this policy will facilitate expansion of India’s skilled workforce and provide a surge in job creation.

Overall, this Policy will further strengthen Government’s initiatives such as ‘Net Zero’ carbon economy & ‘Lifestyle for Environment’ and will steer India on the path of accelerated ‘Green Growth’ by promoting ‘Circular Bioeconomy’.

The BioE3 Policy will foster and advance future that is more sustainable, innovative, and responsive to global challenges and lays down the Bio-vision for Viksit Bharat.

To address the national priorities, the BioE3 Policy would broadly focus on the following strategic/thematic sectors: high value bio-based chemicals, biopolymers and enzymes; smart proteins and functional foods; precision biotherapeutics; climate resilient agriculture; carbon capture and its utilization; marine and space research.

The Cabinet also approved continuation of three umbrella schemes, merged into a unified central sector scheme namely ‘Vigyan Dhara’ of Department of Science and Technology (DST).

The scheme has three broad components: Science and Technology (S&T) Institutional and Human Capacity Building, Research and Development and Innovation, Technology Development and Deployment.

The proposed outlay for the implementation of the unified scheme ‘Vigyan Dhara’ is Rs 10,579.84 crore during the 15th Finance Commission period from 2021-22 to 2025-26.

The merger of the schemes into a single scheme would enhance efficiency in fund utilization and establish synchronization among the sub-schemes/programs.

The primary objective of the ‘Vigyan Dhara’ scheme is to promote S&T capacity building as well as research, innovation and technology development towards strengthening the Science, Technology and Innovation ecosystem in the country.