Home / News / India /  India’s bioeconomy to touch $150 billion by 2025: Jitendra Singh

New Delhi: India has developed roadmap and strategy for a bio-based economy which is inching towards $150 billion by 2025, science and technology minister Jitendra Singh said on Saturday, and added this will facilitate infrastructure for manufacturing of low-carbon bio-based products.

Recently, India has launched the National Hydrogen Energy Mission to enable cost competitive green hydrogen production.

India seeks to meet the country’s massive energy demand with innovative clean energy innovations and programs, Singh said addressing the Joint Ministerial Plenary of Clean Energy Ministerial (CEM13) and Mission Innovation (MI-7) at the “Global Clean Energy Action Forum 2022", at Pittsburgh, Pennsylvania US, Ministry of Science & Technology said in a statement on Saturday.

Singh said the government through public -private partnership is ensuring the funding for clean energy innovations as envisioned under Mission Innovation 2.0.

The minister cited examples of successful public-private partnerships including the “Clean Energy International Incubation Centre", a unique Research and Innovation (R&I) model platform, set up with private partner Tata Trusts, which has resulted in more than 20 clean energy solutions to help standalone researchers. The Joint Centre of Department of Biotechnology (DBT) and oil marketing companies (OMCs) that led to development of 2G ethanol technology is another example.

Singh said the Clean Energy Ministerial (CEM) setup has been able to provide a unique opportunity for India to showcase its contribution to clean energy development nationally & internationally and quoted some major CEM initiatives which includes CEM’s Global Lighting Challenge(GLC) campaign, Street Lighting National Programme, Unnat Jyoti by Affordable LEDs for All (UJALA) program, The One Sun-One world -One Grid Initiative which was first floated by the Prime Minister of India to harness tremendous potential of solar energy.

He asserted that India, through “Mission Innovation", is actively engaged in collaborative efforts to catalyze inspiring innovation goals. Initiatives such as Make in India, Digital India, Start-up India, and Green India, Smart Cities have encouraged hubs of clean energy innovation all over the country. Besides, India has also taken R&D initiative to develop low carbon alternatives to Single Use Plastics in an integrated manner, the Minister added.

India will be hosting MI & CEM in 2023 alongwith its presidency of G-20 in the same year, he announced.

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