Bio-E3 Policy to Mark a Bio-Revolution in India, Says Jitendra Singh

India's Bio-E3 policy is set to position the country as a leader in the global bio-economy, according to Union Minister Jitendra Singh. Speaking at the Global Bio-India Summit 2024, Singh emphasised that this policy will drive a bio-revolution similar to the IT revolution in the West.

The Bio-E3 policy, launched last month, aims to sustainably utilise biological resources for innovation and scaling up bio-manufacturing. It focuses on specialty chemicals, enzymes, bio-polymers, functional foods, smart proteins, veterinary products, and precision bio-therapeutics.

Global Bio-India Summit Highlights

At the summit, Singh highlighted the importance of the Global Biotech platform. This platform brings together diverse stakeholders such as start-ups, SMEs, large industries, research institutes, and international bodies. It fosters collaboration and showcases India's biotech potential.

Singh underscored opportunities in sectors like bio-pharma, bio-energy, and bio-industrials. These sectors are rapidly evolving and contributing to India's bio-economy. The Bio-E3 policy focuses on biotechnology for economy, employment, and environment.

Biotech Hubs and Employment

The minister outlined plans for biotech hubs across India. These hubs will foster collaboration between start-ups and established companies. They aim to bridge the gap between research and commercial manufacturing. The hubs are expected to generate employment in tier two and tier three cities.

Singh projected significant growth for India's biotech industry. It expanded from $10 billion in 2014 to $100 billion in 2020. The expectation is that it will reach $300 billion by 2030. He attributed this progress to government support under Prime Minister Narendra Modi.

India's Vaccine Manufacturing Dominance

India holds 60% of the global market share in vaccine manufacturing. The country is also the second-largest hub for FDA-approved manufacturing plants outside the United States. "It is an exciting time to be part of the biotech sector," Singh said. He urged participants to focus on innovation that improves healthcare accessibility and drives sustainable solutions.

Dr Rajesh S Gokhale, Secretary of the Department of Biotechnology (DBT) and Chairman of BIRAC, praised the Bio-E3 Policy. He said it sets the stage for India's bio-economy to address global challenges like climate change, food security, and healthcare.

Role of DBT and BIRAC

Gokhale emphasised DBT and BIRAC's role in fostering research, innovation, and industrial partnerships. These efforts fuel bio-entrepreneurship and sustainable growth. Dr N Kalaiselvi, Director General of CSIR, added that biotechnology is moving beyond bioscience into bio-economy.

Kalaiselvi noted India's recent achievements in biotechnology. Vaccine exports during the pandemic have bolstered its global standing. She highlighted innovations in biofuels, agriculture, and bio-pharmaceuticals as transformative.

During the Global Bio India 2024 event, BIRAC signed a Letter of Intent with nine major international biotechnology organisations. These include USP, UKRI, DHR Holding India Pvt. Ltd., MIBL, La Trobe University, BFI, USISPF, IBioM Indian Biotech MSME and Startup Foundation, and BSIS - Bharat Startup Festival.

BIRAC also launched several reports at the event. These include the Indian Bio Economy Report 2024 and the BIRAC Compendium of Products and Technologies 2024. Other reports unveiled were on BIRAC Equity Fund, Amrit Grand Challenge, and JanCARE Innovations.

The Bio-E3 policy aims to drive innovation while supporting India's green transition. It will contribute significantly to combating climate change globally. Singh said this policy will usher in a bio-revolution akin to the IT revolution in the West.

The minister lauded the Global Bio-India summit as a unique business networking platform. It brings together stakeholders ranging from start-ups to large industries and international bodies. This platform has become essential for fostering collaborations.

"The best is yet to come," Singh said optimistically about India's biotechnology future.