Biotechnology Sector Accelerated with Rs 9,197 Cr Bio-Manufacturing and Biofoundry Scheme
Biotechnology Sector Accelerated with Bio-RIDE Scheme
In a major boost to India’s biotechnology sector, the Cabinet has approved a unified biotechnology scheme named Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE), with an impressive outlay of Rs 9,197 crore. This initiative focuses on fostering innovation, promoting bio-entrepreneurship, and establishing India as a global leader in biomanufacturing.
A Step Forward for Biotechnology
During the post-Cabinet press briefing, Union Minister Ashwini Vaishnaw stated, "The approval of the Bio-RIDE scheme marks a significant step forward in India’s mission to harness biotechnology for addressing national and global challenges. This initiative will play a key role in advancing research, driving product development, and bridging the gap between academic research and industrial applications."
Core Components of Bio-RIDE
- Biotechnology Research and Development (R&D)
- Industrial & Entrepreneurship Development (I&ED)
- Biomanufacturing and Biofoundry
The scheme consolidates two existing umbrella schemes under the Department of Biotechnology (DBT) and introduces a new component focused on biomanufacturing and biofoundry. The proposed outlay will be implemented from 2021-22 to 2025-26.
Enhancing Green Goals with Bio-RIDE
The Bio-RIDE scheme aligns with the ‘Lifestyle for the Environment (LiFE)’ initiative aimed at tackling climate change through green solutions. The biomanufacturing component promotes sustainable biomanufacturing practices, underlining India’s commitment to its green objectives.
Goals for the Future
The DBT has set an ambitious target for making India a $300-billion bioeconomy by 2030. With Bio-RIDE, the government is laying the groundwork for ‘Viksit Bharat 2047’ by encouraging cutting-edge research and nurturing talent in the biotechnology sector.
Developing Human Resources in Biotechnology
Additionally, the scheme emphasizes developing human resources in biotechnology, offering programs aimed at skilling students, young researchers, and scientists. "This will help expand India’s cohort of highly skilled workers and intensify the momentum of biotechnology-driven entrepreneurship," the statement added.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.