India’s Bioeconomy Potential

Significance

• Clean Environment and Sustainable Resource Production: Bioeconomy would reduce dependence on fossil fuels, thus reducing carbon emissions and pollution, helping in climate change mitigation. It will also promote sustainable and renewable production.
• Economic Development: Bioeconomy would help create new employment opportunities by harnessing local labor and increasing opportunities in the agricultural sector.
• Boosts Agriculture: Increasing farms’ competitiveness by cutting the costs for the purchase of fertilizers and other agro-inputs. Also, crop residues can be sold as biomass feedstock, thereby augmenting farmer’s income.
• Cuts Import Bill: Promotes use of biofuels which reduces dependence on conventional fuels that are mainly imported. Thus, ....