India has built a global reputation as the “pharmacy of the world”
But unlocking its research potential will require a decisive shift towards innovation and original drug development
Regulatory data protection and strong intellectual property rules can encourage global pharma companies to invest more in Indian R&D and clinical trials
Innovators seek longer regulatory data protection, while generic manufacturers fear delays in affordable medicines
Policy must balance innovation incentives with access to low-cost drugs
Drug innovators bear the cost of local clinical trials, while later entrants can seek approval at lower cost. Reform is needed to address this imbalance
India needs more than IP reforms. R&D funds, tax incentives, R&D-linked waivers and easier access to public markets could help biotech ventures scale
India ranked 34th on the Global Innovation Index. Moving higher will require government and industry collaboration while keeping medicine affordability and access central