Kiran Mazumdar-Shaw Advocates for Enhanced R&D Investment to Propel India’s Bio-Innovation Leadership

Biocon Chairperson Kiran Mazumdar-Shaw calls for increased investment in research and development to boost innovation and intellectual property in India. Highlighting India’s significant role in the global pharma and vaccine sectors, she emphasizes the need for a shift toward value creation through innovation at the Global Bio-India 2024 event.

Biocon Chairperson Kiran Mazumdar-Shaw on Thursday advocated for substantial investment in research and development to stimulate innovation and foster a culture of intellectual property.

During the Global Bio-India 2024 event, Mazumdar-Shaw emphasized India's potential to achieve greater value in the global pharmaceutical landscape by nurturing innovation. She noted that India, already the largest exporter of generics and a significant player in vaccine production, ranks 14th in value globally.

Mazumdar-Shaw underscored India's unique advantages as a global bio-innovation hub, crediting the country's rich scientific talent, robust technological capabilities, and entrepreneurial spirit. She highlighted the transformative potential of biosciences across various sectors, and the revolutionary impact of genetic technologies such as RNA and CRISPR. Additionally, she emphasized biotechnology's role in global food security and reaffirmed India's strength as the world's third-largest medicine manufacturer by volume.

(With inputs from agencies.)