Cabinet Approves Biotechnology Policy to Boost Biomanufacturing By CIOTechOutlook Team

Cabinet Approves Biotechnology Policy to Boost Biomanufacturing

CIOTechOutlook Team | Monday, 26 August 2024, 02:55 IST

The Biotechnology for Economy, Environment and Employment policy is approved by the Union Cabinet with the goal of promoting high-performance biomanufacturing within the Department of Biotechnology. Ashwini Vaishnaw, the Minister of Information and Broadcasting, stated that the 'BioE3' policy aims to provide innovation-focused assistance for research and development, as well as entrepreneurship in various sectors.

"One of the biggest decisions (taken in today's Union Cabinet meet) is about BioE3. Like there was industrial revolution and IT revolution, a bio revolution will soon take place. Fields related to bio-technology and bio-science will help in generating a lot of job opportunities. For this, we needed a good policy framework - Biotechnology for Economy, Environment and Employment - which has been approved by the Cabinet. This policy has six pillars," said the union minister.

He stated that the plan is anticipated to speed up technology advancement and commercialization through the creation of biomanufacturing and bio-AI centers and a biofoundry. In addition to giving importance to regenerative bioeconomy models for sustainable growth, this policy will also support the growth of India's skilled labor force and boost job opportunities.

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

Advanced biotechnological processes can enable the production of a wide range of products such as medicine, materials, and bio-based products, while also tackling agricultural and food-related issues.