The Union Cabinet on Saturday approved the Biotechnology for Economy, Environment and Employment policy aimed at fostering high-performance biomanufacturing of the Department of Biotechnology . Information and Broadcasting Minister Ashwini Vaishnaw said that the ' BioE3 ' policy seeks to include innovation-driven support for research and development, as well as entrepreneurship across thematic 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. The move is expected to 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.
"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. The statement further said that our present era is an opportune time to invest in.