{"id":29705,"date":"2024-09-19T19:19:25","date_gmt":"2024-09-19T13:49:25","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=29705"},"modified":"2024-09-19T19:19:28","modified_gmt":"2024-09-19T13:49:28","slug":"bio-ride-scheme-to-support-rd-in-biotechnology","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/19-09-2024\/bio-ride-scheme-to-support-rd-in-biotechnology","title":{"rendered":"Bio-RIDE Scheme to Support R&amp;D in Biotechnology"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Science and Technology<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Union Cabinet approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme to support cutting-edge research and development in biotechnology.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bio-RIDE<\/strong> combines two existing schemes \u2014 <strong>Biotechnology Research and Development (R&amp;D) and Industrial <\/strong>and <strong>Entrepreneurship Development (I&amp;ED)<\/strong> \u2014 with a new component, <strong>Bio-manufacturing and Bio-foundry.<\/strong><\/li>\n\n\n\n<li><strong>The outlay<\/strong> for the implementation of the scheme is <strong>Rs.9197<\/strong> crore during the 15th finance Commission period from<strong> 2021-22 to 2025-26.<\/strong><\/li>\n\n\n\n<li>Implementation of Bio-RIDE Scheme will;\n<ul class=\"wp-block-list\">\n<li><strong>Promote Bio-Entrepreneurship:<\/strong> Bio-RIDE will nurture a thriving ecosystem for startups by providing seed funding, incubation support, and mentorship to bio-entrepreneurs.<\/li>\n\n\n\n<li><strong>Advance Innovation: <\/strong>The scheme will offer grants and incentives for cutting-edge research and development in areas like synthetic biology, biopharmaceuticals, bioenergy, and bioplastics.<\/li>\n\n\n\n<li><strong>Facilitate Industry-Academia Collaboration:<\/strong> Bio-RIDE will create synergies between academic institutions, research organizations, and industry to accelerate the commercialization of bio-based products and technologies.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#ebecf0\"><tbody><tr><td><strong>Biotechnology<\/strong><br>&#8211; Biotechnology deals with the application of biological knowledge and techniques pertaining to molecular, cellular and genetic processes to develop significantly improved products and services.<br>&#8211; The Biotechnology industry in India is divided into the following segments \u2013 Biopharmaceuticals, Bio-services, Bio-agriculture, Bio-Industrials and Bio-IT.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Status of Biotechnology in India<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India ranks <strong>3rd in the Asia-Pacific region<\/strong> and 12th globally in terms of biomanufacturing.\n<ul class=\"wp-block-list\">\n<li><strong>Biotechnology,<\/strong> a sunrise sector, has achieved a valuation of <strong>Rs 75,000 crore<\/strong> over the past 10 years.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The Indian Biotechnology industry was valued at <strong>$93.1 billion in 2022,<\/strong> with expectations of reaching <strong>$300 billion by 2030.<\/strong><\/li>\n\n\n\n<li>In the Global Innovation Index,\u00a0 India has climbed from 81st place in 2015 to <strong>40th out of 132<\/strong> economies in 2023.<\/li>\n\n\n\n<li>In 2022, BioEconomy accounted for <strong>4% <\/strong>of India\u2019s gross domestic product (GDP) of <strong>$3.47 trillion <\/strong>and<strong> employs over 2 million <\/strong>people.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img data-dominant-color=\"efdbb4\" data-has-transparency=\"false\" loading=\"lazy\" decoding=\"async\" width=\"594\" height=\"199\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2024\/09\/Status-of-Biotechnology-in-India-jpg.webp\" alt=\"Status of Biotechnology in India\" class=\"not-transparent wp-image-29706\" style=\"--dominant-color: #efdbb4; width:570px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2024\/09\/Status-of-Biotechnology-in-India-jpg.webp 594w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2024\/09\/Status-of-Biotechnology-in-India-300x101.webp 300w\" sizes=\"auto, (max-width: 594px) 100vw, 594px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>Government Initiatives<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Biotechnology Industry Research Assistance Council (BIRAC)<\/strong> established by the Department of Biotechnology (DBT) is aimed at strengthening and empowering emerging biotechnology enterprises to undertake strategic research and innovation.<\/li>\n\n\n\n<li>Policy initiatives of the Government of India (GoI) such as <strong>Startup India and Make in India programs<\/strong> are aimed to develop India as a world-class Biotechnology and Bio-manufacturing hub.<\/li>\n\n\n\n<li>Favorable Government Policies like <strong>Draft R&amp;D Policy 2021, PLI Schemes and Clinical trial rules<\/strong> have propelled India to be the <strong>\u2018pharmacy of the world\u2019.\u00a0<\/strong><\/li>\n\n\n\n<li><strong>FDI Policy: <\/strong>100% FDI is allowed under the automatic route for greenfield pharma. Also <strong>100% FDI<\/strong> is allowed under the government route for brownfield pharma.\n<ul class=\"wp-block-list\">\n<li><strong>Up to 74% FDI<\/strong> is under the automatic route and beyond <strong>74% <\/strong>is under the government approval route.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Concluding remarks<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Bio-RIDE scheme is designed to foster innovation, promote bio-entrepreneurship, and strengthen India\u2019s position as a global leader in biomanufacturing and biotechnology.\u00a0<\/li>\n\n\n\n<li>It aims to accelerate research, enhance product development, and bridge the gap between academic research and industrial applications.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=2056001\" target=\"_blank\" rel=\"noopener\"><strong>PIB<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme to support cutting-edge research and development in biotechnology.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29705","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/29705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=29705"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/29705\/revisions"}],"predecessor-version":[{"id":29707,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/29705\/revisions\/29707"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=29705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=29705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=29705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}