Relevance:
Government Policies & Interventions, Biotechnology
Content:
Biotechnology initiatives need long-term capital investments.
Introduction
BioE3: Earlier this week the Cabinet cleared a proposal, though without specifying a budget, called BioE3 or Biotechnology for Economy, Environment and Employment. Its thrust is to boost manufacturing in the biotechnology sector.
Read more: Employment Scenario in India
Significance and Scope of Indian Biotechnology Department
Biotech Departmental achievement: in vaccine development, diagnostics and biologicals, that has bolstered India’s reputation as a ‘vaccine factory’, and various other cases since 1986 is commendable.
Need of Biotechnology sectors: There are billion-dollar conglomerates today that rest on high value microbes, gene-modification technologies, bio-plastics, bio-materials, and high-precision medical devices.
Lagging in IT revolution: Despite the know-how and human resource capital, only a few Indian biotechs have global resonance, as there are few local manufacturers who can supply Indian laboratories/startups with the ingredients and devices to make products.
Imports dependence: The BioE3 policy aims to correct the reliance on imports means that India loses its international competitiveness.
Funding requirements and private partnerships for Biotech’s: Despite funding in last four years, India needs to be going beyond and setting up companies, in public private partnership mode, to bolster biotechnology manufacturing.
Ramping up biotechnology manufacturing: There are six verticals that this initiative envisages: biobased chemicals and enzymes; functional foods and smart proteins; precision biotherapeutics; climate-resilient agriculture; carbon capture, and futuristic marine and space research.
Less focus on fossils: Futurists have been saying that the era of fossil-fuel industrialisation is over and humanity will have to rely on the natural world — for food and for making consumer products.
Environmental concerns: This is to solve the global problem of non-biodegradable waste and carbon emissions.
Read more: Water Shortage Threat in India
Way forward
Future industries must be grounded in environmentally benign products, and this is impossible without sophisticated biotechnology. By setting up bio-foundries and bio-artificial intelligence hubs, the policy hopes there will be avenues for a variety of biotechnologists to congregate.
Conclusion
India’s woes with manufacturing have chronic causes. Without establishing enabling grounds for long-term capital investment — and these have little to do with biotechnology per se — top-down initiatives will have limited impact. The BioE3 policy must be a deeply collaborative effort between Centre and States. Rather than expect quick returns, the government must provide financial and infrastructural support over the long term. A long-term capital investment, and a patient approach to building the necessary infrastructure for a robust biotech industry will boost the sectors confidence.
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