India’s bioeconomy at $150 billion: BIRAC MD

• India’s bioeconomy has grown to USD 150 billion but ranks 14th globally due to limited innovation in patented products.
• BIRAC is promoting academic research conversion into marketable biotech solutions through initiatives like the PACE program and bio-incubation centres.
• Although biotech startups have surged from 300 to 8,000, India’s R&D spending remains low, with BIRAC aiming to boost private sector investment and streamline regulatory processes.

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