- National Mission on Bio-economy was launched in Shillong, Meghalaya by the Institute of Bio-resources and Sustainable Development (IBSD) under the Ministry of Science and Technology, In order to boost rural economy by utilizing bio-resources.
- The mission is unique to south-east Asia and India has become one of the few countries to have tapped bio-resources, which when optimally utilized can create a large number of jobs at village level.
- National Mission on Bioeconomy envisages the development of a roadmap for an actionable policy recommendation involving all stakeholders for the transformation of India through job creation from small scale livelihood enterprises to commercial scale production for increased economic growth through technological packages to increase primary production.
- Value addition of the unique bio-resources through industrial biotechnology and provision of bio services, with tailored packages that are relevant to specific regions across India.
- 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
- The mission could have the potential to generate new solutions for the planet’s major challenges in the field of energy, health, food, water, climate change and deliver social, environmental and economic benefits.
- The bioeconomy, or biobased economy, is a new model for industry and the economy. It involves using renewable biological resources sustainably to produce food, energy and industrial goods. It also exploits the untapped potential stored within millions of tons of biological waste and residual materials.
- The transition from a fossil fuel-based to a biobased economy is expected to reduce our dependence on fossil fuels and achieve more sustainability as well as contribute to climate and environmental protection. The Baden-Württemberg government is working towards establishing a regional bioeconomy.
- The bioeconomy involves breaking up plants into their component parts as completely as possible and converting them into valuable materials. It is expected that this challenge will be met in the future by large biorefineries with many coordinated process steps.