Union Minister of Commerce and Industry Shri Piyush Goyal chaired a high-level roundtable on “India’s Bioeconomy Opportunity: Role of Startups in Driving Innovation and Growth” at Vanijya Bhawan, New Delhi. Organised by the Department for Promotion of Industry and Internal Trade (DPIIT), in collaboration with NITI Aayog and NITI Frontier Tech Hub, the roundtable brought together policymakers, industry leaders and biopharma startups to deliberate on measures to accelerate the growth of India’s bioeconomy.
In his address, Shri Piyush Goyal emphasised the need to leverage India’s scientific capabilities and entrepreneurial talent to position the country as a global leader in the bioeconomy. He underscored the importance of faster approvals, improved access to finance, shared infrastructure and stronger industry–academia–Government collaboration. He also called for time-bound action on the recommendations emerging from the roundtable.
The discussions focused on strengthening the biopharma startup ecosystem through streamlined regulations, faster approvals, a proposed Regulatory Sandbox, Single Window Clearance, global regulatory alignment and simplified patent application processes.
The importance of Biopharma SHAKTI, announced in the Union Budget 2026–27, was also discussed, along with the need to develop shared infrastructure, including laboratories, testing facilities and clinical trial facilities, to reduce costs and enable startups to scale their innovations.
Distinguished Fellow, NITI Aayog, Ms. Debjani Ghosh, highlighted the importance of collaboration among startups, industry, academia and Government in building a globally competitive bioeconomy. Member, NITI Aayog, Prof. Gobardhan Das, stressed the need to strengthen research capabilities and translate scientific discoveries into commercially viable products.
The roundtable also discussed measures to strengthen indigenous life sciences manufacturing, expedite customs clearance for laboratory equipment and reagents, and simplify access to Government schemes and regulatory support. Participants emphasised the need for stronger inter-ministerial coordination to facilitate coherent policy interventions and ensure faster resolution of sector-specific challenges.
Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas