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New Delhi: It could be E4 instead of BioE3 (biotechnology for economy, environment and employment) to bolster sustainability through energy transition amid looming concern over rising global temperatures, said Ajay Kumar Sood, principal scientific adviser to the government, on Thursday.<\/p>\n<\/div>\n
India launched the BioE3 policy last month to foster high-performance biomanufacturing aligned with national initiatives of the Union government such as a net-zero carbon economy and Mission LiFE (Lifestyle for environment).<\/p>\n<\/div>\n
\u201cInstead of E3, it can easily be E4\u2014the fourth E stands for energy transition. We are passing through a crisis of global heat warming. So, energy transition is a must in this effort and the biofuels and circular economy are essential for our sustainability in the long run,\u201d Sood said at the fourth edition of the Global Bio-India summit.<\/p>\n<\/div>\n
Also read | <\/i>Global Biofuels Alliance to prepare charter, finalize governance structure<\/i><\/p>\n<\/div>\n \u201cThe success of the biotech innovation ecosystem hinges on the active involvement of diverse stakeholders, including research institutes, universities, companies, investors and governments, and these entities must be collaborating to foster a sustainable environment through networks, regulatory and policy support and the promotion of innovation with intellectual property right protection. The integration of technology into biology has strengthened the foundation of biotechnology over the past decades.\u201d<\/p>\n<\/div>\n India\u2019s biotechnology industry is growing rapidly. According to the India BioEconomy Report 2024<\/i> released on Thursday, over the past decade, India\u2019s bio-economy has grown significantly, from $10 billion in 2014 to $151 billion by the end of 2023.<\/p>\n<\/div>\n \u201cWe expect this to reach $300 billion by 2030. This growth is driven by increasing demand for vaccines and biopharmaceuticals in both domestic and international markets, and highlights the sector\u2019s increasing significance as it now accounts for 4.25% of India\u2019s gross domestic product of $3.55 trillion in 2023 calendar year.\u201d<\/p>\n<\/div>\n India has consolidated its position as a top global vaccine manufacturer. According to the World Health Organization\u2019s Global Vaccine Market Report<\/i>, the Serum Institute of India\u2019s share of the global vaccine market, excluding covid-19 vaccines, increased from 19% in 2021 to 24% in 2023. This growth was largely driven by a rise in the production of pneumococcal conjugate vaccine (PCV), measles-rubella (MR) vaccine and tetanusdiphtheria (Td) vaccine. The adoption of new technology platforms also played a crucial role in scaling up covid-19 vaccine production.<\/p>\n<\/div>\n Also read | <\/i>India to achieve $150 billion bio-economy by 2025: Jitendra Singh<\/i><\/p>\n<\/div>\n Indian manufacturers supplied 25% of the vaccines purchased by the WHO, with a considerable portion consumed domestically. Moreover, India exported a substantial quantity of vaccines to the Africa, making up approximately 20% of its total exports.<\/p>\n<\/div>\n \u201cThere is no better time than now to harness the rapidly evolving capabilities of artificial intelligence, and the new dimensions opened by quantum technology. The scope of biotechnological advancements is also a crucial objective of achieving a carbon-neutral future for a sustainable and greener planet. Integrating innovative approaches such as carbon sequestration from algae and conversion to biofuels, engineered microbes for carbon capture and the development of bioenergy crops hold potential to create zero carbon footprint on our planet,\u201d Sood said.<\/p>\n<\/div>\n India aims to reach net zero by 2070. Algae can be 10 to 50 times more effective at capturing carbon dioxide than other vascular plants. For example, Chlorella vulgaris<\/i>, a type of green microalgae, can be 400 times more efficient than trees at carbon capture. Algae can also remove nutrients like nitrogen and phosphorus from water bodies and absorb heavy metals and other pollutants. This process is called bioremediation.<\/p>\n<\/div>\n Also read | <\/i>ONGC backs its net zero goal with \u20b9<\/span>2 tn<\/i><\/p>\n<\/div>\n \u201cAnother method of driving innovation is biomanufacturing, leading to the development of new biomaterials and advanced medical therapies as we have learnt an essential lesson. We have witnessed the power of biotechnology innovation to unify the global response against unpredictable biological threats,\u201d the principal scientific adviser said.<\/p>\n<\/div>\n The BioE3 Policy is a forward-looking initiative that harnesses the potential of biomanufacturing to drive green growth. This framework is designed for Indian institutions, startups, and industries to engage in transformative innovations that address the intertwined challenges of climate change, resource efficiency and economic development.<\/p>\n<\/div>\n Biomanufacturing, which uses engineered biological systems to produce commercially important products, offers a sustainable alternative to traditional manufacturing processes. By utilizing resources more efficiently and reducing environmental impact, biomanufacturing can play a key role in building a greener and more resilient economy.<\/p>\n<\/div>\n<\/div>\n Catch all the Business News, Politics news,Breaking NewsEvents andLatest News Updates on Live Mint. Download TheMint News App to get Daily Market Updates.<\/p>\n