Low VC funding, regulatory hurdles challenges to biotech growth: BIRAC MD

India targets a $300 billion bioeconomy by 2030, up from $165 billion in 2024.

While India is making progress in biotechnology, the sector continues to face challenges in securing venture capital (VC) funding and getting regulatory clearances, according to Jitendra Kumar, managing director of the Biotechnology Industry Research Assistance Council (BIRAC), Department of Biotechnology.

 

“One is a regulatory challenge, because the products have to pass the regulatory pathway, and these pathways for many emerging technologies, for example, CAR-T therapy, are sometimes not very clear. Another challenge is funding. The entry barriers are now lower for startups with the introduction of biofoundries and other investments. However, for bio-manufacturing at a much larger scale, there is