K'taka Unveils Revised Biotech Policy to Lead Global Clinical Trials & Genomics Innovation

The draft note accompanying the policy outlines India's ambitious goal to achieve a $150 billion bioeconomy by 2025, with projections soaring to $300 billion by 2030.

Karnataka, known as the Silicon Valley of India, has launched revamped versions of the biotechnology policy.

The state's renewed biotech policy aims to position Karnataka as the next global hub for clinical trials and a leader in genomics. Notably, the policy highlights an advanced genome editing technique known as "crack-in-creation," garnering international attention for its biological breakthrough.

To catalyse advancements, the government has introduced several incentives, including a subsidy of up to INR 10 Cr for bio-manufacturing units, reimbursement of up to 50% of expenses incurred for cutting-edge R&D equipment (up to INR 10 Lakh), and reimbursement of lease rentals for startups and MSMEs (up to INR 5 Lakh).

Furthermore, the policy offers incentives such as an employment generation incentive of up to INR 50,000 per fresher employed and reimbursement of internship stipends up to INR 5,000 per internee.

Additionally, businesses can benefit from increased support for project report and valuation report preparation costs, obtaining standardisation certificates, and marketing initiatives.

With an emphasis on 'Transformation through impactful Implementation,' the draft note accompanying the policy outlines India's ambitious goal to achieve a $150 billion bioeconomy by 2025, with projections soaring to $300 billion by 2030.

Karnataka has already invested over $200 million in biotech research and development, solidifying its position as the third-largest ethanol producer in India, boasting a network of over 60 producers.

Additionally, the policy outlines establishing a rural biotechnological innovation centre to foster 'bio-villages' and facilitate impactful innovations in healthcare, agriculture, and environmental sustainability.

The policy identifies ten key biotechnology areas, centring on bio-agriculture, marine biotechnology, synthetic biology, bio-derived materials, medical devices, AI & ML, 3D bioprinting, antimicrobial resistance, multi-omics, and space biotechnology.

The commitment extends to continuous support for research and development in these domains.

The announcement of the revised policy launch was made by the Chief Minister of Karnataka, Siddaramaiah. He said, "Karnataka was the pioneer in introducing a biotech policy in 2001. This policy revision reflects our commitment to staying ahead of the curve and fostering growth in this critical sector."

This strategic move positions Karnataka at the forefront of innovation and economic growth, fostering a conducive environment for the biotech sector to thrive and contribute significantly to India's global standing.

In another development, the Karnataka government unveiled plans to conceptualise the development of a Knowledge, Healthcare, Innovation, and Research (KHIR) City on the outskirts of Bengaluru. The project aims to attract a substantial investment of INR 40,000 Cr in the healthcare, innovation, and knowledge sectors, potentially creating 80,000 jobs within the proposed KHIR City.