Reports from the Indian government or reputable financial institutions

India Launches BioE3 Policy to Boost High-Performance Biomanufacturing

Aug 31, 2024, 06:19 AM

The Indian government has launched the Biotechnology for Economy, Environment and Employment (BioE3) policy, aiming to position India as a global leader in biotechnology. Announced by Union Minister Dr. Jitendra Singh, the policy is expected to foster high-performance biomanufacturing and bioinnovation, leveraging India's abundant bio-resources. Over the past decade, India's bioeconomy has expanded significantly, growing from $10 billion in 2014 to $130 billion in 2024. The BioE3 initiative seeks to establish biomanufacturing and Bio-AI hubs to accelerate technology development and commercialization, contributing to a resilient and self-reliant Aatmanirbhar Bharat. The policy is seen as a game-changer for the future economy of the country.