THEBUSINESSBYTES BUREAU

NEW DELHI, NOVEMBER 3, 2026

Commerce and Industry Minister Piyush Goyal on Tuesday called for faster regulatory approvals, improved access to finance and shared research infrastructure to accelerate the growth of India's biopharma startup ecosystem and position the country as a global leader in the bioeconomy.

Chairing a high-level roundtable on "India's Bioeconomy Opportunity: Role of Startups in Driving Innovation and Growth" at Vanijya Bhawan here, Goyal emphasised the need to harness the country's scientific capabilities and entrepreneurial talent to unlock the potential of the rapidly evolving bioeconomy sector.

He also stressed stronger collaboration among industry, academia and the government, while calling for time-bound action on recommendations emerging from the deliberations to address challenges faced by startups and facilitate their growth.

The roundtable, organised by the Department for Promotion of Industry and Internal Trade (DPIIT) in collaboration with NITI Aayog and NITI Frontier Tech Hub, brought together policymakers, industry representatives and biopharma startups to discuss measures to strengthen India's life sciences and biotechnology ecosystem.

Participants deliberated on a series of regulatory reforms, including faster approvals, a proposed Regulatory Sandbox, Single Window Clearance, alignment with global regulatory standards and simplification of patent application procedures to create a more conducive environment for innovation and entrepreneurship.

The discussions also highlighted the significance of Biopharma SHAKTI, announced in the Union Budget 2026-27, as a key initiative to support the sector's development. Participants underscored the need for shared infrastructure, including laboratories, testing facilities and clinical trial centres, to lower operational costs, improve access to research facilities and help startups scale up innovative products.

Distinguished Fellow at NITI Aayog Debjani Ghosh highlighted the importance of coordinated efforts among startups, industry, academia and the government in building a globally competitive bioeconomy, while NITI Aayog Member Gobardhan Das stressed strengthening research capabilities and translating scientific discoveries into commercially viable products.

The roundtable also examined ways to strengthen domestic life sciences manufacturing, expedite customs clearance of laboratory equipment and reagents, and simplify access to government schemes and regulatory support.

Participants further called for stronger inter-ministerial coordination to ensure coherent policy interventions and faster resolution of sector-specific bottlenecks, particularly those affecting emerging biopharma enterprises.

The deliberations centred on creating an enabling ecosystem that can help Indian startups move from scientific research and early-stage innovation to commercial manufacturing and global market competitiveness.