The Bioeconomy refers to “the production, use and conservation of biological resources, including related knowledge, science, technology, and innovation to provide information, products, processes and services to all economic sectors with the aim of moving towards a sustainable economy”, as per the United Nations Food and Agriculture Organisation (FAO). This term gained popularity in the 21st century’s first decade after the European Union (EU) and the Organisation for Economic Co-operation and Development (OECD) adopted it to promote biotechnology use in developing new products and markets.
Bioeconomy Report 2022: Key Takeaways
The Bioeconomy Report 2022 by the Department of Biotechnology (DBT) reveals that India’s bioeconomy is projected to scale up from USD 150 billion in 2025 to surpass USD 300 billion by 2030. Notably, this sector experienced a significant 14.1% increase, reaching USD 80 billion in 2021, up from USD 70.2 billion in 2020. The report highlights that the bioeconomy contributed USD 219 million daily, indicating its profound economic impact.
Interestingly, three biotech startups were established every day in 2021, culminating in a total of 1,128 throughout the year. Furthermore, the industry invested over USD 1 billion in research and development, reflecting its commitment to innovation and progress. Currently, India ranks second globally in terms of the number of USFDA-approved manufacturing plants outside the United States.
Deciphering Genetically Engineered Insects
Genetically Engineered (GE) insects are organisms that have been genetically altered to introduce desirable traits or characteristics. They play crucial roles in vector management in human and livestock health, managing major crop insect pests, reducing chemical usage to safeguard human health and the environment, and producing proteins for healthcare purposes. However, the guidelines for GE insects lack clarity on their approved use in India, hindering funders and scientists from investing.
Challenges Surrounding Genetically Engineered Insects
One primary concern regarding gene modifications is their potential ecological impact, such as disrupting ecosystems by affecting non-target species or altering existing population balance. Unintended consequences such as changes in insect behavior, lifespan, or interactions with other organisms may arise due to the intricate process of genetic engineering.
Ethical concerns are another challenge, with some individuals questioning the morality of genetically altering living organisms, particularly when these organisms are released into environmental settings. Also, developing regulatory frameworks for genetically engineered insects poses difficulties in determining the appropriate level of testing, monitoring, and oversight. Other factors like ensuring the stability of the engineered traits over generations and the high costs and scalability of implementing GE insect technologies remain as significant challenges.
A Way Forward
To achieve the ambitious goals set for the bioeconomy, comprehensive and clear policies are necessary. Addressing the challenges related to GM insects requires a multidisciplinary approach encompassing scientists, policymakers, ethicists, and the public. Ensuring that the benefits of genetically engineered insects are realized while keeping potential risks to a minimum will be crucial. This will entail ongoing research and maintaining open dialogue to navigate these complexities responsibly.
