What is the primary objective of the ‘BioE3 Policy’, recently approved by Union Cabinet?

The Union Cabinet approved the BioE3 (Biotechnology for Economy, Environment and Employment) Policy to boost biotechnology for the economy, environment, and employment. It is managed by the Department of Biotechnology, it focuses on high-performance biomanufacturing. It aims to produce a wide range of bio-based products, from medicines to materials. It addresses challenges in farming and food through advanced biotechnological processes. It encourages innovation by supporting research, development, and entrepreneurship. Plans to establish biomanufacturing and bio-AI hubs and biofoundries for faster tech development and commercialization. It promotes sustainable growth through regenerative bioeconomy models. It aims to expand India’s skilled workforce and create more job opportunities.