Shri Piyush Goyal, Union Minister of Commerce and Industry, chaired a roundtable focusing on measures to accelerate the growth of India’s bioeconomy. The event brought together policymakers, industry leaders, and biopharma startups.
On November 3rd, 2026, Shri Piyush Goyal, Union Minister of Commerce and Industry, presided over a high-level roundtable titled '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 event was attended by policymakers, industry leaders, and biopharma startups.
In his address, Goyal emphasised the importance of leveraging India’s scientific capabilities and entrepreneurial talent to position the country as a global leader in the bioeconomy. He highlighted the need for faster approvals, improved access to finance, shared infrastructure, and stronger industry–academia–Government collaboration. Goyal also called for prompt 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 significance of Biopharma SHAKTI, announced in the Union Budget 2026–27, was also discussed, along with the importance of developing shared infrastructure, including laboratories, testing facilities, and clinical trial facilities, to reduce costs and enable startups to scale their innovations.
During the roundtable, Distinguished Fellow, NITI Aayog, Ms. Debjani Ghosh, highlighted the need for collaboration among startups, industry, academia, and Government in building a globally competitive bioeconomy. Member, NITI Aayog, Prof. Gobardhan Das, stressed the importance of strengthening research capabilities and translating 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.
Source:
Press Information Bureau
