The National Mission on Bioeconomy has launched in Shillong, Meghalaya by the Institute of Bio-resources and Sustainable Development (IBSD).
The mission is unique to south-east Asia and India has become one of the few countries to tap bio-resources.
- The purpose of the mission is to boost rural economy by utilizing bio-resources. Besides, it can be optimally utilized can create a large number of jobs at village level.
- It also focuses on sustainable utilization of renewable biological resources for food, bio-energy and bio-based products through knowledge-based approaches.
- It has potential to generate new solutions for the planet’s major challenges in the field of energy, food, health, water, climate change and deliver social, economic and environmental benefits.
Bioeconomy is a new concept and few countries like US, Canada, European Union (EU) and Australia have started initiatives in this field. India is the fast-growing bioeconomy at US 35 billion dollars in 2015, which can even rise to USD 100 billion in future.
The Institute of Bio-resources and Sustainable Development (IBSD): It functions under the Department of Biotechnology, Union Ministry of Science and Technology.