While all eyes seem to be on solar power and its contribution to the country’s and specific states’ GDPs, bio-energy and bio-based value-added product sectors have been silently growing. A recent Karnataka government estimate suggested that the bio-economy of the state is about $25 billion annually already and is on course to achieve $50 billion by 2025.
Karnataka is perhaps the leading state in the bio-economy sector with an estimated 33% of the national share - an interesting fact given that the state's share of the country's GDP is only about 8%. So there's something about Karnataka that makes it attractive for the bio-economy sector.
For those who are wondering what bio-economy is, given that a large part of our (and any other nation's economy) has always been bio-based, the term bio-economy as it is used currently denotes bio-based value beyond agriculture. It comprises broadly bio-agriculture (agriculture and animal husbandry) and, in addition, bio-industrials (enzymes, biofuels, biomass, and green chemicals). Some of the emerging sectors are marine biotech and BioIT/ bio-informatics.
Bio-economy. Remember that term, friends. You are likely to hear it oftener from now on.
