As we bid farewell to 2023, it is opportune to reflect on the pivotal juncture that India finds itself in—a moment that holds the promise of transformative growth and innovation in 2024 and beyond. Unleash the Potential of Biotechnology Over the last several years, biotechnology in India has transformed from a nascent sector to a sunrise industry. India’s bioeconomy, which stands at ~$100 billion, is poised to reach the $150-billion milestone by 2025. The pace of growth is being accelerated by the convergence of distinct disciplines and life technologies, which are in turn giving rise to new ideas, approaches, and discoveries. Investing judiciously and pragmatically in biotechnology can help our nation derive maximum benefits from the transformative potential of this sector and turbo-charge economic growth. Biotechnology can catapult India into the ranks of the Top 5 global biomanufacturing hubs by 2025, as well as improve the health of the nation with next-generation, personalized, affordable medicines. Biofuels and industrial enzymes can contribute to India’s long-term low-carbon development strategy, enabling it to achieve the goal of ‘net zero’ by 2070. Agri-biotech can be a key enabler for India’s farmers, making them more profitable and boosting the contribution of agriculture to India’s economy. Cutting-edge biotech innovation can also allow India to capture a significant value share of the global life sciences market. Biotechnology can thus be a linchpin in India’s journey towards achieving a $5 trillion economy. The future of biotech in India is as much about political and cultural leadership as it will be about the science and technology itself. We must propel our R&D ecosystem forward with public and private support to make biotechnology-based products not only for our own citizens, but also for people across the globe. As we look to the future, we must implement policies that attract and retain the world’s most brilliant scientists and engineers, as well as create Centers of Excellence to ideate and aim at ‘moonshots.’ Create Smarter Regulations The pharmaceutical industry is poised to play a crucial role in this landscape of transformative growth. Fuelled by a commitment to innovation and bolstered by government initiatives toward universal health coverage, the pharma-biotech industry is set to empower India by embracing the latest advancements in life sciences. Information technology and life sciences are converging to spearhead a future where India will have overtaken many other nations in terms of quality of care and achieving the vision of universal healthcare. Next-gen therapeutics such as cell and gene therapies, antibody-drug conjugates (ADCs), and DNA & RNA based therapies are expected to be key drivers of value growth for the Indian biopharma industry over the next decade. For Indian biopharma companies working on these next-gen therapeutics, technology convergence promises to accelerate product development. AI & analytics can provide early in-vitro, pre-clinical, and clinical insights that enhance both the probability and predictability of success of bringing novel therapeutics from lab to market. Introducing regulatory reforms that ease the adoption and seamless integration of AI and Big Data can serve as a crucial catalyst, unlocking India’s vast research and innovation capabilities. The same holds true for public healthcare delivery in India. The Ayushman Bharat Digital Mission has laid the groundwork for a digital health infrastructure, with electronic health records, telemedicine, e-pharmacy services enhancing healthcare access. However, regulations in these areas need to be refined and their adoption needs to be expedited. Indian policymakers and regulatory bodies should adapt to technological advancements, ensuring safeguards while accelerating development pathways. By integrating technology-led thinking into regulations and fostering tech-savvy regulators, India’s healthcare innovations could serve as a global model for transformative change. Increase Women Leadership in STEM Drawing from my 45 years of experience of leading a global biopharmaceutical company, I have found that women bring in the kind of diversity of thought, creativity, and out-of-box thinking that is needed to do innovative science. By making our top research institutions more gender-sensitive and inclusive, we can create more leadership opportunities for Indian women scientists, engineers, and technologists. India would benefit the most in terms of faster economic growth by increasing the number of women scientists and technologists in key decision-making positions. By ensuring equal participation and leadership of women and in STEM-related (science, technology, engineering, and mathematics) fields, India could set a global example and contribute to achieving the Sustainable Development Goal of equality and women’s empowerment. Conclusion The strides that we have made in science and technology this year lay the groundwork for a future where India stands tall as a beacon of transformative change on the global stage. We have all the ingredients to succeed. If we do so, we can be a scientific powerhouse of the world and create one of the greatest legacies for a healthy and prosperous future.
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