VATIS UPDATE Article

India’s Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has given its approval for Industry-Academia Collaborative Mission for accelerating discovery research to early development for biopharmaceuticals. Named as “Innovate in India, empowering biotech entrepreneurs & accelerating inclusive innovation”, it will be funded by the government of India.

The Mission will be implemented by Biotechnology Industry Research Assistance Council (BIRAC) – a Public Sector Undertaking of Department of Biotechnology (DBT). The Mission Programme would be a Pan-India program. The key focus areas of the program would aid in preparing India’s technological and product development capabilities in the biopharmaceutical sector to a level that it is globally competitive over the next 10-15 years.

It will transform the health standards of India’s population through affordable product development. Total project cost to be funded by Government of India is Rs. 1500 crore for five years. 50% cost for the Mission Programme will be arranged through the World Bank loan. For the implementation, a Programme Management Unit will be set up at BIRAC which will work as an operational and functional arm that will monitor program’s implementation and progress.