Union Cabinet approves new biotech policy to promote high-performance bio manufacturing and foster jobs

New Delhi: The Union Cabinet on Saturday cleared a new biotechnology policy aiming to foster “high performance bio-manufacturing” in India and generate large-scale employment in the sunrise sector.

Named BioE3 (Biotechnology for Economy, Environment and Employment), the policy will accelerate technology development and commercialization by establishing bio-manufacturing, bio-AI hubs and bio-foundry.

“A bio-revolution is set to happen in which biotechnology and bioscience related fields will turn into a major economy, generating a large number of jobs. We need a right policy framework to facilitate it,” Union Information and Broadcasting Minister Ashwini Vaishnaw said at a media briefing.

The policy would focus on six specific areas: (1) bio chemicals, bio enzymes, bio polymers (2) smart proteins and functional foods (3) precision bio therapeutics like gene therapy for sickle cell anaemia (4) bio fertilizers, bio pesticides, biofuels and biochemicals and (6) marine and space applications.

“Along with prioritising regenerative bio-economy models of green growth, the policy will facilitate expansion of India’s skilled workforce and provide a surge in job creation,” the government says in a press statement.

The Union Cabinet also decided to merge three umbrella schemes of the Department of Science and Technology to announce Rs 10,580 crore ‘Vigyan Dhara’ programme over five years to promote S&T capacity building as well as research, innovation and technology development.