Blitz Bureau
NEW DELHI: India’s bioeconomy is approaching the $200 billion mark, which is a significant milestone in its evolution with a strong policy push and growing innovation pipeline signalling the next phase of growth, according to a report released on April 1. The report by Endiya Partners said that the nation’s bioeconomy has expanded sharply from around $10 billion in 2014 to over $195 billion in 2026, now contributing nearly 5 per cent to the GDP.
India, long recognised as the pharmacy of the world for supplying nearly 20 per cent of global generics and over 60 per cent of vaccines, is now transitioning towards an innovation-led biopharma ecosystem focused on novel therapeutics and deep-tech platforms.
The report highlighted that India stands at an inflection point, driven by favourable policy measures, regulatory reforms, and increasing global validation of its clinical-stage assets. It also highlighted key government initiatives — including the proposed Rs 10,000 crore Biopharma Shakti scheme and the Rs 1,00,000 crore Research, Development and Innovation (RDI) Fund — that are expected to accelerate the development of a robust innovation ecosystem.
Recent regulatory reforms, such as the introduction of a 45-day approval timeline and prior intimation pathways, are also likely to reduce administrative bottlenecks and compress drug development cycles by up to four months, it added.
At the same time, structural shifts in the global biopharma industry, including rising R&D costs, estimated at $2.2 billion per asset, and a looming $300 billion patent cliff, are creating opportunities for cost-efficient and high-velocity research ecosystems like India.
