Prime Minister Modi Approves New Bio-RIDE Scheme to Boost Biotechnology in India
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the continuation and merging of two biotechnology schemes into one unified scheme called ‘Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE)’. This new scheme includes a component on Biomanufacturing and Biofoundry.
The Bio-RIDE scheme has three main components:
- Biotechnology Research and Development (R&D)
- Industrial & Entrepreneurship Development (I&ED)
- Biomanufacturing and Biofoundry
The scheme has a proposed budget of Rs 9197 crore for the period from 2021-22 to 2025-26. It aims to foster innovation, promote bio-entrepreneurship, and strengthen India’s position as a global leader in biomanufacturing and biotechnology. The scheme will accelerate research, enhance product development, and bridge the gap between academic research and industrial applications.
Bio-RIDE is part of the Government of India’s mission to harness bio-innovation to tackle challenges in healthcare, agriculture, environmental sustainability, and clean energy. It will nurture a thriving ecosystem for startups by providing seed funding, incubation support, and mentorship to bio-entrepreneurs.
The scheme will offer grants and incentives for research in areas like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics. It aims to create synergies between academic institutions, research organizations, and industry to accelerate the commercialization of bio-based products and technologies.
Bio-RIDE will also focus on promoting environmentally sustainable practices in biomanufacturing, aligned with India’s green goals. The new component on Biomanufacturing and Biofoundry aims to develop indigenous innovative solutions to improve healthcare, enhance agriculture productivity, and foster the growth of the bioeconomy.
The Department of Biotechnology (DBT) aims to make India globally competitive in biotechnology research, innovation, translation, entrepreneurship, and industrial growth, with a vision to achieve a US$300 billion bioeconomy by 2030.
Doubts Revealed
Prime Minister Modi -: Prime Minister Modi is the leader of India. He makes important decisions for the country.
Union Cabinet -: The Union Cabinet is a group of top leaders in the Indian government who help the Prime Minister make decisions.
Bio-RIDE scheme -: The Bio-RIDE scheme is a new plan to help grow the biotechnology industry in India.
biotechnology -: Biotechnology is a science that uses living things, like plants and animals, to make products or solve problems.
Rs 9197 crore -: Rs 9197 crore is a large amount of money in Indian currency, used to fund the Bio-RIDE scheme.
bio-entrepreneurship -: Bio-entrepreneurship means starting new businesses that use biotechnology.
biomanufacturing -: Biomanufacturing is making products using biological materials, like cells or proteins.
startups -: Startups are new companies that are just beginning to develop.
green goals -: Green goals are plans to protect the environment and use resources in a sustainable way.