India’s bioeconomy poised to touch 300 billion dollars by 2030: Jitendra Singh

New Delhi: Union Minister of State for Science & Technology, Dr Jitendra Singh on Friday said that India’s bioeconomy is poised to touch 300 billion dollars by 2030 as it is set to join the global wave of a new industrial revolution.

Speaking at the “National Consultation Meeting on Bio-manufacturing to build a Draft Policy Framework on Bio-manufacturing, the Minister said under Prime Minister Narendra Modi, the government is committed to enabling Circular-Bio-economy by advancing ‘High-Performance Bio-manufacturing’ in the country.

“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” he said.

Jitendra Singh said India envisions “Green Growth”in the ‘AmritKaal’ 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.

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.

“Moreover, it will also lead to development of a skilled workforce in the domain of Bio-manufacturing, a surge in job creation and entrepreneurship especially in 2- and 3-tier cities and streamline policies and regulations for Biogenic products to expand market opportunities” he added.

Talking about the Mission LiFE” (Lifestyle for the Environment), he said the Initiative launched by the Prime Minister Narendra Modi urges the people to put forward green and friendly environmental solutions.

In his address, Secretary, DBT, Dr Rajesh Gokhale said, India is the world’s 3rd largest importer of crude oil and the 4th largest importer of liquefied natural gas, a large part of which is used in the chemical industrial manufacturing.

“Burning of hydrocarbons, the major constituent of fossil fuels, releases CO2 as a major by-product, contributing substantially to global warming” he said. UNI

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