India’s state owned Department of Biotechnology, Ministry of Science & Technology, and the Biotechnology Industry Research Assistance Council (BIRAC) organized the 3rd Global Bio-India 2023, an international congregation on biotechnology, on Dec 4 in New Delhi.
The event focused on boosting India’s biomanufacturing capabilities through next-gen technologies, biotech innovation, workforce upskilling, government investments, and upgraded biosafety systems.
At the event, Dr. Kiran Mazumdar Shaw, executive chairperson, Biocon & Biocon Biologics, stated that India should set a new bio-economy target of $200 billion for 2025, up from the current $137 billion and previous $150 billion goal. Shaw is a luminary figure in India’s biotech space and was the first self-made woman billionaire in India.
Scaling up startups poses a major challenge, as the lab to market journey needs to be accelerated. Indian biotech companies lack access to exit options through capital markets, unlike the substantial venture capital and public market funding biotechs receive in the U.S. Sensitizing capital markets to back strong ideas is key, beyond just the government funds.
Several Memorandums of Understanding were announced between Indian and international organizations and BIRAC.
BIRAC signed MoUs with Germany’s Miltenyi Biotec for cell and gene therapy research; Japan’s Takeda Pharmaceuticals to mentor innovators from ideation to market deployment of healthcare solutions; the UK’s Foreign, Commonwealth and Development Office; and with India Health Fund.
The recommendations from the event aim to accelerate the translation of emerging biotechnologies from lab research to commercial solutions that can positively impact healthcare and the wider economy. Public-private partnerships are vital to provide funding, commercialization pathways, and infrastructure for India’s biotech sector growth.
Last updated: December 26th, 2025
