PARLIAMENT QUESTION: BIO-ECONOMY

• Bio-economy = economic activity derived from biological resources, biotech innovation, biomanufacturing (pharma, agri-biotech, bio-industrial, bio-services, bio-IT).
• India's bio-economy is now a flagship Sci-Tech vertical under DBT, targeted to hit USD 300 billion by 2030; tested under GS-III (S&T, Economy) and Prelims (schemes/policies).
• Anchored by two recent policy/scheme instruments — BioE3 Policy (Aug 2024) and Bio-RIDE Scheme (Sept 2024).