 "PM Modi chairs first meeting of his new Cabinet")
The Union Cabinet also approved the continuation of three umbrella schemes of the Department of Science and Technology. | PTI Photo
The Union Cabinet on Saturday approved the ‘BioE3’ (Biotechnology for Economy, Environment and Employment) policy for fostering high-performance biomanufacturing of the Department of Biotechnology.
According to Information and Broadcasting Minister Ashwini Vaishnaw, the BioE3 policy seeks to include innovation-driven support for research and development and entrepreneurship across thematic sectors.
This will accelerate technology development and commercialisation by establishing biomanufacturing and bio-AI hubs and biofoundry, he said.
Along with prioritising regenerative bioeconomy models of green growth, this policy will facilitate the expansion of India’s skilled workforce and provide a surge in job creation.
#WATCH | Union Minister Ashwini Vaishnaw says, ” In the coming days, there will be Bio revolution. In the coming days, the fields related to bio-science will become a big economy and multiple jobs will be created. For that, a good policy framework was needed and today’s cabinet… pic.twitter.com/FzHPOeIbdO
— ANI (@ANI) August 24, 2024
An official statement said, the policy will further strengthen the government’s initiatives such as a Net Zero’ carbon economy and Lifestyle for Environment’ and will steer India on the path of accelerated Green Growth’ by promoting a Circular Bioeconomy’.
“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,” the statement said.
Our present era is an opportune time to invest in the industrialisation of biology to promote sustainable and circular practices to address some of the critical societal issues such as climate change mitigation, food security and human health, it said.
It is important to build a resilient biomanufacturing ecosystem in our nation to accelerate cutting-edge innovations for developing bio-based products.
High-performance biomanufacturing is the ability to produce products from medicine to materials, address farming and food challenges, and promote manufacturing of bio-based products through the integration of advanced biotechnological processes, the statement said.
The Union Cabinet also approved the continuation of three umbrella schemes of the Department of Science and Technology, merged into a unified central sector scheme called ‘Vigyan Dhara’.
#Cabinet approves continuation of three umbrella schemes of @IndiaDST , merged into a unified central sector scheme ‘Vigyan Dhara’Proposed outlay for Vigyan Dhara is Rs. 10,579 Cr during 15th Finance Commission period from 2021-22 to 2025-26#CabinetDecisions
— Dhirendra Ojha (@DG_PIB) August 24, 2024
The proposed outlay for Vigyan Dhara is Rs 10,579 crore during the 15th Finance Commission period from 2021-22 to 2025-26, Information and Broadcasting Minister Ashwini Vaishnaw told reporters.
The scheme has three broad components — science and technology institutional and human capacity building; research and development; and innovation, technology development and deployment.
First Published: Aug 24 2024 | 8:28 PM IST
