(MENAFN- KNN India)
New Delhi, Sep 17 (KNN) India is rapidly positioning itself as a formidable player in the global industrial landscape through a strategic focus on high-tech and green technologies.
This strategic push includes investments in mission-mode projects such as quantum technologies, semiconductors, and green technologies, as well as production-linked incentive (PLI) schemes targeting Electronics manufacturing, pharmaceuticals, and drones.
Central to this vision is the BioE3 policy, which aims to build on existing frameworks like BioSECURE to diversify the supply chain away from China.
The policy is poised to incentivise companies to prioritise products that help mitigate geopolitical risks and supply chain vulnerabilities.
India's strengths lie in its skilled workforce and the capacity to scale biomanufacturing affordably, positioning it as a prime candidate for countries seeking to diversify their supply chains.
A key component of India's strategy involves negotiating preferential cooperation agreements with the United States. These agreements could include advance purchase contracts for US-patented products manufactured in India.
As several US drug patents are set to expire in the coming years, expanding these agreements to include vaccines and therapies could significantly bolster India's biomanufacturing sector.
In addition to BioSECURE, India is set to enhance its international engagements to foster demand for Indian-made products. The Quad Working Group on Critical and Emerging Technologies is expected to prioritise biomanufacturing, leveraging the collective strengths of its member countries-India, the US, Japan, and Australia.
An example of this collaboration could be the establishment of a Quad Biomanufacturing Hub in India, aimed at strengthening supply chain resilience and innovation.
Furthermore, India is poised to benefit from the newly formed Biopharma Coalition (Bio-5), which includes the US, the EU, India, Japan, and South Korea. This coalition presents a significant opportunity to enhance biopharmaceutical supply chain resilience and expand India's global footprint.
The bio-services sector also shows immense potential. The BIOSECURE Act's implications for US-China biotechnology trade, which heavily involves services, could create opportunities for Indian contract development and manufacturing organizations (CDMOs).
For instance, companies like BGI Genomics and WuXi AppTec, renowned for their global service networks, could pave the way for Indian CDMOs to expand their services in the global market.
India's emergence as a dominant provider of global services, particularly in IT, finance, and analytics, underscores its growing expertise.
Additionally, the burgeoning biotech startup ecosystem is poised to make significant contributions in areas such as clinical genomics and drug discovery.
(KNN Bureau)
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