India's Biotechnology Boom: Unleashing Innovation for Global Leadership

India's biotechnology sector is experiencing substantial growth, valued at USD 150 billion. Despite this, there is untapped potential in innovation and product development. BIRAC is promoting this through various initiatives and bio-incubation centers to support startups, aiming to elevate India's global ranking in biotech.

India's biotechnology sector is witnessing considerable growth, now valued at USD 150 billion, but the potential for further innovation and product development remains substantial, says Dr. Jitendra Kumar, Managing Director of BIRAC.

BIRAC, a public sector initiative, is pivotal in fostering innovation and startup growth in biotechnology, with the sector witnessing an exponential rise in biotech startups from 300 to over 8,000 since 2012.

Despite the sector's achievements, India needs increased private-sector R&D investment and regulatory improvements to fully realize its biotech potential, positioning itself as a global leader, Kumar emphasizes.

(With inputs from agencies.)