Bamboo, often referred to as ‘green gold,’ is poised to take center stage in India’s economic landscape as NITI Aayog, the Indian government’s policy think tank, spearheads efforts to harness its immense potential. With applications ranging from biofuel to infrastructure, bamboo is set to play a pivotal role in India’s development story.
NITI Aayog’s Vision:
Under the guidance of NITI Aayog member Ramesh Chand, meticulous planning is underway to formulate a comprehensive policy that will unlock the full potential of bamboo. This policy aims to encourage and support the entire bamboo value chain, spanning cultivation, production, processing, standardization, and utilization. The ultimate goal is to establish a thriving circular economy within the bamboo sector.
A Holistic Approach:
The forthcoming policy, expected to be unveiled by year-end, promises to be far-reaching. It will encompass critical facets such as setting Bureau of Indian Standards (BIS) benchmarks for bamboo, certifying food and safety standards for bamboo products, and even geographical indications (GI) tagging to enhance export opportunities.
Bamboo’s Role in Sustainable Solutions:
The Indian government is particularly keen on leveraging bamboo’s potential for large-scale bio-ethanol production, a strategic move to reduce the nation’s dependence on imported fossil fuels. Additionally, bamboo’s strength and versatility are being explored for applications in construction and infrastructure, ushering in sustainable and eco-friendly alternatives.
Challenges and Global Potential:
While China, India, and Myanmar collectively account for 80% of the world’s bamboo area, India’s industrialization of bamboo has remained relatively modest, leading to supply-side constraints and limited bamboo exports. However, the global bamboo market exhibited remarkable growth, reaching $68.8 billion in 2019, and is projected to expand to $98.3 billion by 2025. Bamboo’s environmentally friendly attributes, including its lower water requirement compared to hardwood trees and increased oxygen production, position it as an effective tool in the fight against climate change.
Unlocking Bamboo’s Potential:
In 2018-19, the Indian government initiated the National Bamboo Mission, aimed at fostering the comprehensive development of the bamboo value chain. However, the absence of incentives for producers and other stakeholders has impeded significant growth in bamboo production.
The all-encompassing policy currently under development by NITI Aayog seeks to surmount these challenges and unleash the full potential of bamboo. By doing so, it aims to establish a sustainable bamboo industry in India that not only contributes to economic growth but also aligns with India’s commitment to environmental sustainability.
