Commerce Minister Piyush Goyal Chairs Biopharma Startup Roundtable
Union Minister of Commerce and Industry Shri Piyush Goyal chaired a high-level roundtable on "India's Bioeconomy Opportunity: Role of Startups in Driving Innovation and Growth" at Vanijya Bhawan, New Delhi on November 3, 2026. The event was organized by the Department for Promotion of Industry and Internal Trade (DPIIT) in collaboration with NITI Aayog and NITI Frontier Tech Hub, bringing together policymakers, industry leaders, and biopharma startups to deliberate on measures to accelerate India's bioeconomy growth.
In his address, Minister Goyal emphasized the need to leverage India's scientific capabilities and entrepreneurial talent to position the country as a global leader in bioeconomy. He underscored the importance of faster approvals, improved access to finance, shared infrastructure, and stronger industry-academia-government collaboration. The minister specifically called for time-bound action on the recommendations emerging from the roundtable.
Key Discussion Points and Recommendations
The discussions focused on strengthening the biopharma startup ecosystem through several regulatory reforms including streamlined regulations, faster approvals, a proposed Regulatory Sandbox, Single Window Clearance, global regulatory alignment, and simplified patent application processes. Participants emphasized the importance of the Biopharma SHAKTI initiative announced in the Union Budget 2026–27 and discussed the need to develop shared infrastructure including laboratories, testing facilities, and clinical trial facilities to reduce costs and enable startups to scale their innovations.
NITI Aayog Distinguished Fellow Ms. Debjani Ghosh highlighted the importance of collaboration among startups, industry, academia, and government in building a globally competitive bioeconomy. NITI Aayog Member Prof. Gobardhan Das stressed the need to strengthen research capabilities and translate scientific discoveries into commercially viable products.
Operational and Policy Measures
The roundtable also addressed 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 emphasized the need for stronger inter-ministerial coordination to facilitate coherent policy interventions and ensure faster resolution of sector-specific challenges. The discussions concluded with a focus on implementing these recommendations through coordinated government action to boost India's bioeconomy through startup innovation.