New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday approved the 'BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High Performance Biomanufacturing' of the Department of Biotechnology aimed at accelerating India's transition to green growth and a Net Zero carbon economy.

The salient features of BioE3 policy include innovation-driven support to R&D and entrepreneurship across thematic sectors. This will accelerate technology development and commercialisation by establishing Biomanufacturing & Bio-AI hubs and Biofoundry.

Along with prioritising regenerative bioeconomy models of green growth, this policy will facilitate expansion of India’s skilled workforce and provide a surge in job creation, according to an official statement issued after the meeting.

Overall, this Policy will further strengthen the government's initiatives such as 'Net Zero' carbon economy & 'Lifestyle for Environment' and will steer India on the path of accelerated 'Green Growth' by promoting '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 is important to build a resilient biomanufacturing ecosystem in our nation to accelerate cutting-edge innovations for developing bio-based products," the statement explained.

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 integration of advanced biotechnological processes.

To address the national priorities, the BioE3 Policy would broadly focus on the following strategic sectors: high value bio-based chemicals, biopolymers and enzymes; smart proteins and functional foods; precision biotherapeutics; climate resilient agriculture; carbon capture and its utilisation; marine and space research, the statement added. (IANS)