National Mission on Bioeconomy launched

In order to boost rural economy by utilising bio-resources, a National Mission on Bioeconomy was today launched here by the Institute of Bio-resources and Sustainable Development (IBSD) under the Ministry of Science and Technology.
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, IBSD chief Dinabandhu Sahoo said.
Stating that bioeconomy is a new concept, he said few countries like USA, Canada, European Union and Australia have started initiatives in this field.
The mission focuses on sustainable utilization of renewable biological resources for food, bio-based products and bio-energy through knowledge-based approaches, he said.

It 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, Sahoo said.
The latest estimate pegs India's fast-growing bioeconomy at USD 35 billion in 2015, which can even rise to USD 100 billion, he said.
Meghalaya Chief Secretary K S Kropha said the NE region is among the world's top 10 biodiversity hot spots and people should take advantage of these resources to improve their economy.