Union Minister of Commerce and Industry Piyush Goyal on Tuesday chaired a high-level roundtable focused on strengthening India’s biopharma startup ecosystem and accelerating the growth of the country’s bioeconomy.
Titled ‘India’s Bioeconomy Opportunity: Role of Startups in Driving Innovation and Growth’, the roundtable 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 policy measures and strategies that could strengthen India’s position in the global bioeconomy.
Goyal Calls for Faster Approvals and Better Access to Finance
Addressing participants, Goyal emphasised the need to leverage India’s scientific capabilities and entrepreneurial potential to establish the country as a global leader in the bioeconomy.
He highlighted several priorities for strengthening the sector, including faster regulatory approvals, improved access to finance, shared infrastructure and stronger collaboration among industry, academia and government institutions.
The Minister also called for time-bound action on the recommendations emerging from the roundtable, signalling the importance of translating discussions into concrete policy interventions.
Regulatory Reforms Take Centre Stage
A key area of discussion was the need to simplify regulatory processes and create a more supportive environment for biopharma startups.
Participants deliberated on faster approval mechanisms, a proposed Regulatory Sandbox, Single Window Clearance, alignment with global regulatory standards and simplified patent application procedures.
These measures were discussed as potential ways to reduce regulatory hurdles, improve predictability and help startups bring innovations to market more efficiently.
The discussions also covered the role of Biopharma SHAKTI, announced in the Union Budget 2026–27, in strengthening India’s biopharmaceutical sector.
Shared Infrastructure to Support Startup Growth
The development of shared infrastructure emerged as another major priority. Participants highlighted the need for accessible laboratories, testing facilities and clinical trial infrastructure to reduce operational costs and support startups in scaling their innovations.
Access to such facilities could help emerging companies overcome infrastructure constraints and strengthen their ability to conduct research, validate products and move towards commercialisation.
The meeting also examined measures to promote indigenous life sciences manufacturing, expedite customs clearance for laboratory equipment and reagents, and simplify access to government schemes and regulatory support.
NITI Aayog Highlights Research and Industry Collaboration
NITI Aayog Distinguished Fellow Debjani Ghosh underscored the importance of collaboration among startups, industry, academia and government in building a globally competitive bioeconomy.
NITI Aayog Member Professor Gobardhan Das emphasised the need to strengthen research capabilities and translate scientific discoveries into commercially viable products.
Participants also stressed stronger inter-ministerial coordination to ensure coherent policy interventions and faster resolution of challenges faced by businesses operating in the sector.
Building an Enabling Environment for India’s Bioeconomy
The roundtable forms part of broader efforts to strengthen India’s biopharma startup ecosystem, encourage innovation and create an enabling environment for the country’s expanding bioeconomy.
The focus on regulatory simplification, financing, shared infrastructure and research collaboration reflects the importance of connecting India’s scientific capabilities with entrepreneurship and industrial development.
As discussions around Biopharma SHAKTI and other policy interventions progress, effective implementation will be important in helping startups scale innovations and strengthening India’s participation in the global biopharmaceutical landscape.
By : Vanshika Tayal
