New Delhi, November 3: Commerce and Industry Minister Piyush Goyal has called for time-bound action on measures to help biopharma startups grow, including faster approvals, easier access to finance and shared research infrastructure.
He was chairing a roundtable on ‘India’s Bioeconomy Opportunity: Role of Startups in Driving Innovation and Growth’ at Vanijya Bhawan in New Delhi. The meeting was organised by the Department for Promotion of Industry and Internal Trade (DPIIT) with NITI Aayog and the NITI Frontier Tech Hub, and brought together policymakers, industry leaders and biopharma startups.
Mr Goyal said India should use its scientific base and entrepreneurial talent to become a global leader in the bioeconomy. He stressed closer working between industry, academia and the government, and asked for the recommendations from the meeting to be acted on within fixed timelines.
Regulatory changes discussed
Participants discussed streamlining regulations and speeding up approvals for biopharma startups. Proposals included a regulatory sandbox, single window clearance, closer alignment with global regulatory standards and a simpler process for filing patent applications.
The roundtable also looked at faster customs clearance for laboratory equipment and reagents, support for domestic life sciences manufacturing and easier access to government schemes. Participants said stronger coordination between ministries was needed so that sector-specific problems could be resolved quickly.
Shared labs and Biopharma SHAKTI
Biopharma SHAKTI, announced in the Union Budget 2026-27, was discussed at the meeting. Participants spoke of the need for shared infrastructure such as laboratories, testing facilities and clinical trial facilities, which would lower costs for startups and help them scale up their products.
NITI Aayog view
Debjani Ghosh, Distinguished Fellow at NITI Aayog, said collaboration among startups, industry, academia and the government was key to building a globally competitive bioeconomy. NITI Aayog Member Prof Gobardhan Das said India needed to strengthen research and turn scientific discoveries into products that can be sold.
Related: India’s bioeconomy to touch $300 billion by 2030: Dr Jitendra Singh