16th Biopharma Summit Recognizes India’s InnovationPotential

“Over the past few years, positive regulatory policies have been framed. Yet, global clinical trials being done in India are a small percentage of overall global trials. This does not reflect India’s true potential,” Rishi added.

Kiran Mazumdar Shaw, executive chairperson, Biocon Group and USAIC advisory Board member, said that India’s innovation ecosystem is developing rapidly on a platform of technology convergence. “India’s IT prowess has catalyzed a digital focus on biopharma innovation that is generating AI-powered diagnostics, Digital Health management, and software for drug discovery, she added.

Hari Bhartia, founder & co-chairman, Jubilant Bhartia Group said that the Indian industry is witnessing sweeping changes with massive investments by companies in scientific innovation such as cell/gene therapies, integrated drug discovery models, mRNA-based vaccines. “Despite regulatory and legal challenges, India has the potential to become one of the largest clinical trial markets globally. Its strong medical infrastructure, IPR protection, patient availability, experienced talent and cost competitiveness will act as key differentiators,” Bhartia noted.