Context: The Centre introduced its BioE3 policy, designed to stimulate growth in the biotech sector through new incentives and opportunities. Initially, the policy appears to be a conventional approach to enhancing biotechnology’s impact on the economy, environment, and employment.
BioE3 (Biotechnology for Economy, Environment and Employment) Policy
o The BioE3 policy's key aspects involve supporting innovation-driven R&D and entrepreneurship across various thematic sectors.
o In general, this Policy will bolster the Government's initiatives such as 'Net Zero' carbon economy & 'Lifestyle for Environment' and will guide India towards accelerated 'Green Growth' by encouraging 'Circular Bioeconomy'.
o The BioE3 Policy will nurture an advanced future that is more sustainable, innovative, and responsive to global challenges and sets out the Bio-vision for Viksit Bharat.
Benefit for India
oBiomanufacturing refers to the use of cells or other living microorganisms to produce commercially viable products.
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