India Paves Way for Biotech Revolution with BIRAC-RDI Fund Launch
Union Minister Jitendra Singh launched the BIRAC-RDI Fund to promote biotechnology innovation in India. The Rs 2,000 crore fund will support ventures from research to industrial manufacturing. It highlights India's potential in the biotech sector and aims to significantly boost the country's bioeconomy and global standing by 2026.
- Country:
- India
Union Minister of Science and Technology, Jitendra Singh, unveiled the Biotechnology Industry Research Assistance Council-Research, Development and Innovation (BIRAC-RDI) Fund aimed at enhancing biotechnology innovation in India.
The initiative will allocate Rs 2,000 crore over five years to support tech advancements from laboratory research to large-scale manufacturing. Eligible startups and SMEs can submit proposals by March 31, 2026, at the official BIRAC portal.
Singh emphasized India's rising prominence in the biotech sector, noting the growth in biotech startups from 50 in 2014 to over 11,000 by 2026. The fund seeks to bolster India’s bioeconomy and global influence.
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