Why in the news?

  • According to the Kerala Bioeconomy Report 2025, prepared by the Association of Biotechnology Led Enterprises (ABLE), Kerala’s bioeconomy sector has achieved a robust annual growth rate of 12%.

Bioeconomy

  • What is it?:
    • Bioeconomy refers to the production, utilization, and conservation of biological resources such as plants, animals, microorganisms, and biomass, using science, technology, and innovation to produce sustainable goods and services across sectors like agriculture, health, energy, and industry.
    • It aims to create a sustainable and inclusive economy by replacing fossil-based resources with bio-based alternatives and promoting circular economic models.
  • Bioeconomy in India:
    • India’s bioeconomy grew 16-fold in a decade contributing 4.25% to national GDP and recorded a CAGR of 17.9% over the last four years.
    • India ranks among the Top 12 global biotech destinations and is the 3rd largest in the Asia-Pacific region.
    • Over 10,000 biotech startups are operational, up from barely 50 in 2012.
  • Key Sectors of India’s Bioeconomy:
    • BioPharma: Vaccines, biosimilars, diagnostic kits; supported by the National Biopharma Mission (NBM-i3).
    • BioAgri: Biofertilizers, biopesticides, biofortified crops, precision agriculture.
    • BioIndustrial: Biofuels, bio-based plastics, biomanufacturing for green chemicals.
    • BioEnergy: Ethanol blending (target 20% by 2025), reducing crude oil imports and CO₂ emissions.
    • BioServices: Contract research, bioinformatics, and health-tech innovation.
  • Policy Frameworks to Boost Bioeconomy:
    • BioE3 Policy (Biotechnology for Economy, Environment, and Employment):
      • Aims to Transform India into a global biotech powerhouse through advanced biomanufacturing, bio-AI hubs, and sustainable bio-based industries.
      • Focuses on Value-added biobased industries, Shifting from fossil fuels to bio-based manufacturing and Job creation in tier-II and III cities using local biomass.
    • National Biofoundry Network:
      • Comprises six leading institutions to strengthen biomanufacturing capabilities by accelerating lab-to-market transitions.
      • Supports startup innovation through Bio-RIDE and BioE3 initiatives.
    • National Mission on Bioeconomy:
      • Focuses on rural job creation, sustainable bio-resource utilization, and biomass mapping.
      • Launched under Department of Biotechnology
    • Genome India Project: Genome sequencing of 10,000 individuals to enhance health innovation.
    • Biotech-KISAN: Connects scientists with farmers for bio-based agricultural solutions.
    • BioSaarthi Programme: Global mentorship for biotech startups.
  • Significance:
    • Economic Growth: Adds new green job opportunities and startup-led entrepreneurship.
    • Environmental Sustainability: Promotes circular bioeconomy, replaces petrochemicals.
    • Energy Security: Reduces oil imports and carbon emissions.
    • Food Security: Improves nutritional value through biotech crops.
    • Rural Development: Biomass-based local industries create decentralized employment.
  • Challenges:
    • Limited commercialization and late-stage R&D funding.
    • Gaps in biosafety regulation and bio-waste management.
    • Need for skilled biomanufacturing workforce.
    • Policy harmonization across multiple ministries.
  • Way Forward:
    • Expand biofoundry and biomanufacturing clusters regionally.
    • Promote Bio-AI integration for faster product innovation.
    • Strengthen global partnerships and ethical standards.
    • Enhance funding through PPPs and venture capital support.
    • Invest in bio-literacy and workforce training.