Subject: Science & Technology

India's remarkable strides in biotechnology have positioned it as a global hub, evidenced by the surge in biotech startups from 50 in 2014 to 8,531 in 2023. This exponential growth, coupled with significant government support through the Department of Biotechnology (DBT), has catalyzed innovations across various sectors, particularly in biopharma.

Factors Driving Biotechnology Growth in India

1. Government Support and Initiatives:

• Substantial budget allocation of ₹3,446.64 crore to DBT in 2025-26, marking a significant increase from previous years.
• Implementation of Bio-RIDE scheme with ₹2,300 crore funding to boost R&D activities.
• Strong intellectual property protection with 3,576 biotech patents granted in 2023.

2. Robust Innovation Ecosystem:

• Remarkable growth in biotech startups with 1,776 new startups added in 2023 alone.
• Creation of bio-clusters and incubation centers fostering research collaboration.
• Integration of artificial intelligence and machine learning in biotechnology research.

Benefits to Biopharma Sector

1. Market Growth and Economic Impact:

• Projected growth of biosimilars market to reach USD 12 billion by 2025.
• Overall pharmaceutical market expected to reach USD 174.31 billion by 2033.
• CAGR of 11.32% indicating robust sector growth.

2. Innovation and Research Outcomes:

• Development of cost-effective biosimilars and biotherapeutics.
• Enhanced drug discovery capabilities through genomic research.
• Advancement in personalized medicine and targeted therapies.

3. Global Competitiveness:

• Emergence as a major hub for contract research and manufacturing.
• Increased exports of biotech products and services.
• Recognition as a key player in global vaccine production.

The synergy between biotechnology advancement and biopharma has positioned India as a "Pharmacy of the World", with projections indicating market growth to USD 400-450 billion by 2047. This transformation, driven by innovation, policy support, and entrepreneurial spirit, exemplifies India's potential in Bio-manufacturing 4.0 and sustainable healthcare solutions.