New Delhi: Union Minister of Commerce and Industry Piyush Goyal on Tuesday chaired a high-level roundtable on strengthening India’s biopharma startup ecosystem and accelerating growth in the country’s bioeconomy.
The roundtable, titled ‘India’s Bioeconomy Opportunity: Role of Startups in Driving Innovation and Growth’, was organised by the Department for Promotion of Industry and Internal Trade (DPIIT) in collaboration with NITI Aayog and NITI Frontier Tech Hub at Vanijya Bhawan in New Delhi.
The meeting brought together policymakers, industry representatives and biopharma startups to discuss strategies for strengthening India’s position in the global bioeconomy.
Addressing the participants, Goyal stressed the need to harness the country’s scientific capabilities and entrepreneurial potential to establish India as a global leader in the bioeconomy. He highlighted the importance of faster regulatory approvals, improved access to finance, shared infrastructure and stronger collaboration among industry, academia and the government.
The Minister also called for time-bound action on the recommendations emerging from the discussions.
Key deliberations focused on regulatory reforms to support biopharma startups, including faster approval processes, a proposed Regulatory Sandbox, Single Window Clearance, alignment with global regulatory standards and simplification of patent application procedures.
Participants also discussed the role of Biopharma SHAKTI, announced in the Union Budget 2026-27, in strengthening India’s biopharmaceutical sector.
The need to develop shared infrastructure, including laboratories, testing facilities and clinical trial facilities, was highlighted as a key priority to reduce operational costs and help startups scale up their innovations.
Distinguished Fellow at NITI Aayog Debjani Ghosh underscored the importance of collaboration among startups, industry, academia and the government in building a globally competitive bioeconomy.
Member of NITI Aayog Professor Gobardhan Das emphasised strengthening research capabilities and translating scientific discoveries into commercially viable products.
The discussions also covered measures to promote indigenous life sciences manufacturing, expedite customs clearance for laboratory equipment and reagents, and simplify access to government schemes and regulatory support.
Participants further stressed the need for stronger inter-ministerial coordination to ensure coherent policy interventions and faster resolution of challenges faced by the sector.
The roundtable forms part of efforts to strengthen India’s biopharma startup ecosystem, encourage innovation and create an enabling environment for the country’s growing bioeconomy.
[DD News]