India’s bioeconomy to reach $300 bn by 2030: Union Minister Jitendra Singh

New Delhi, Feb 25 (KNN) Union Minister Jitendra Singh said on Friday that India’s bioeconomy is poised to touch USD 300 billion by 2030.

He said the country is set to join the global wave of a new Industrial Revolution with the help of its rising innovation and scientific temper.

The Minister was speaking at the “National Consultation Meeting on Bio-manufacturing to build a Draft Policy Framework on Bio-manufacturing.”

“Under Prime Minister Narendra Modi, the government is committed to enable Circular-Bio-economy by advancing ‘High-Performance Bio-manufacturing’ in the country,” he said. 

He added that the Department of Biotechnology (DBT) envisages to bring together scientific and technological advancement towards achieving a major goal of the Department’s vision of BioE3 (i.e. Biotechnology for Economy, Environment and Employment) for green, clean and prosperous India.

The minister said that India envisions “Green Growth" in the ensuing ‘Amrit Kaal’ and this calls for a systematic framework plan for implementation of robust innovative bio-based eco-friendly solutions to further boost the ongoing economic growth of our nation.

Additionally, “Mission LiFE" i.e., ‘Lifestyle for the Environment (LiFE)’ launched by the Prime Minister Narendra Modi on 20 October, 2022 urges us to put forward green and friendly environmental solutions in every aspect of life to effectively achieve climate and energy goals, the Minister added.

He also added that this program will strengthen ‘Make in India’ by supporting domestic manufacturing (Industry 4.0), as it will support building green infrastructure for bio-manufacturing across the country.  (KNN Bureau)