Union Minister Jitendra Singh has said that the new Bioeconomy (BioE3) policy rolled out by the Government is set to place India as a global leader in the years to come. Singh hailed PM Narendra Modi’s visionary leadership for spearheading a forward-looking policy that aims to pivot from traditional consumptive practices to high-performance, regenerative bio manufacturing, marking a significant step towards a cleaner, greener, and more prosperous Bharat.
While talking on the surge in Bio economy, Union Minister Singh said ‘India's bio economy has experienced remarkable growth, skyrocketing from $10 billion in 2014 to over $130 billion in 2024, with projections to reach $300 billion by 2030. This surge reflects India's robust economic growth. The recent policy will reignite growth spirits and position India as a potential leader in the 4th industrial revolution.’ Singh said ‘the BioE3 Policy is set to accelerate this growth trajectory, making substantial contributions to the 'Make in India' initiative by fostering the development of bio-based products with minimal carbon footprints.’
According to him, the BioE3 Policy is designed to address critical global challenges such as climate change and depleting non-renewable resources by: Facilitating the shift from chemical-based industries to sustainable bio-based models; Promoting a circular bio economy; Achieving net-zero carbon emissions through innovative waste utilization from biomass, landfills, and greenhouse gases and Encouraging the development of bio-based products and expanding job creation.
