Kiran Mazumdar-Shaw Advocates for Innovation in Biotechnology Sector

Investment in Research and Development

Kiran Mazumdar-Shaw, Biocon Chairperson, on Thursday highlighted the necessity of increasing investment in research and development within the biotech sector to propel innovation and foster a culture of intellectual property.

India's Potential as a Leader

India, already the largest exporter of generics globally and a key player in vaccine production, can realize greater value through innovative practices. "India ranks 14th in terms of value in the global pharma landscape. We need to invest in R&D and create a strong intellectual property culture to capture enhanced value," she stated during the Global Bio-India 2024 event.

Biosciences: A New Frontier

Mazumdar-Shaw showcased India's potential to become a global hub for bio-innovation, citing its abundant scientific talent and technological capabilities. She stated, "Biology is transforming humanity, pushing the boundaries of knowledge and capability." Recent advancements in genetics, including RNA and CRISPR technologies, promise unprecedented precision in treating genetic diseases.

Promoting Food Security

She also emphasized the role of biotechnology in achieving global food security. The VIGYAN Dhara initiative, with a substantial investment, aims to promote critical research and technology in this arena.

India's Pharmaceutical Strength

Reflecting on the country's strengths, Mazumdar-Shaw noted that India is the world’s third-largest medicine manufacturer and largest exporter of generics. One in three pills consumed in the US is produced in India, demonstrating the vast scale of its pharmaceutical production.