prowess and huge manufacturing capacity , Indian companies are innovating in many of these areas to build affordable technologies that can be readily scaled-up and deployed across LMICs . Additionally , efforts are being directed in developing point-of-care diagnostics to guide initiation of appropriate therapies .
Your take on the current start-up ecosystem in India ? Remarkable differences in the last one decade ? Challenges that need to be addressed ?
The biotech startup ecosystem has shown tremendous growth over the last decade with generous funding from Government of India and private investors for early discovery research in Biotech , Medtech , Agritech , cell / gene therapies and diagnostics . The biggest challenges for start-ups is the huge financial support for late-stage clinical development , infrastructure and cultural appetite for risk that is required to build a portfolio of globally competitive products . With very limited latestage funding to build this pipeline and the inherent long duration for biotech products , the attractiveness for out-licensing to big pharma or delivering innovative , affordable life-saving therapies remains bleak .
How do you view the government ' s
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With India as G- 20 Chair , the timing is perfect to build critical global networks and enable business-friendly initiatives
PLI scheme to promote manufacturing in India ? Any recommendations in the biotech context ?
This is a welcome move to support large-scale manufacturing of pharmaceuticals drugs and APIs to mitigate overreliance on overseas suppliers and to keep the Indian generic manufacturers competitive in the global marketplace . However , there is a lack of clarity on how the PLI scheme will spur and sustain the development of cuttingedge , innovative biotech products to treat / manage a variety of human diseases for global markets .
Outlook for India ' s growing biotech market in India and key growth drivers ?
India ’ s global leadership role in making affordable diagnostics and life-saving vaccines during the pandemic should serve as an eyeopener and trigger to build a culture of innovation to become a global powerhouse of innovative , affordable healthcare products rather than continuing to be a generic player . With India as G-20 Chair , the timing is perfect to build critical global networks and enable business-friendly initiatives to promote a culture of innovation in biotech and healthcare which could bring about meaningful change across economies and societies .
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BioVoiceNews | February 2023