India's biotech sector, valued at $150B, calls for increased private-sector R&D investment and streamlined regulations for innovation leadership, per BIRAC official Dr. Jitendra Kumar.

India's biotechnology sector is valued at $150 billion but has significant untapped potential, according to Dr. Jitendra Kumar of BIRAC. Since 2012, the number of biotech startups has surged from 300 to over 8,000. However, India invests only 0.8% of its GDP in R&D, lagging behind countries like the US and China. To enhance innovation and become a global leader, BIRAC emphasizes the need for increased private-sector R&D investment and streamlined regulations.

October 20, 2024
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