03 October 2016 Current Affairs: The National Mission on Bioeconomy has launched in Shillong, Meghalaya by the Institute of Bio-resources and Sustainable Development (IBSD). The mission is unique to south-east Asia and India has become one of the few countries to tap bio-resources.
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. It also focuses on sustainable utilization of renewable biological resources for food, bio-energy and bio-based products through knowledge-based approaches.
It has potential to generate new solutions for the planet’s major challenges in the field of energy, food, health, water, climate change and deliver social, economic and environmental benefits.
Bioeconomy is a new concept and few countries like US, Canada, European Union (EU) and Australia have started initiatives in this field. India is the fast-growing bioeconomy at US 35 billion dollars in 2015, which can even rise to USD 100 billion in future.