India's booming bioeconomy poised for growth

Several factors are contributing to the growth of India's biotech industry, including increased government support, favourable regulatory policies, and a vibrant start-up ecosystem. A $500 billion target is in the works for the country's bioeconomy by 2047, the year in which it will celebrate its 100th anniversary of independence, reports The Pharma Letter’s India correspondent.

As industry captains got together with government officials recently to discuss the growth of the sector, it was pointed out that India must prioritize focused investment in frontier technologies in the biotech sector to stay ahead of the curve in a rapidly evolving and increasingly competitive world.

Members participating in a meeting of the Association of Biotechnology Led Enterprises (ABLE) suggested that this investment could help fund research and development (R&D), provide access to advanced tools, and foster collaboration between various teams and industry partners.