Union Minister Piyush Goyal Discusses Regulatory Easing, Funding Support with Biotech Startups

Goyal urged FMCG companies to expand the Open Network for Digital Commerce’s DigiDukaan initiative to increase digital adoption among neighbourhood kirana stores.

Union Minister Piyush Goyal has held discussions with India’s biopharma and biotechnology startups to identify regulatory and operational challenges and explore measures to accelerate growth.

The discussions have focused on regulatory easing, funding support, faster patent approvals, and stronger research infrastructure to help emerging companies scale their innovations.

“Discussed the need for coordinated action to simplify regulatory processes, improve access to funding, expedite patent approvals, and strengthen indigenous procurement and research infrastructure,” Goyal said.

The discussions also highlighted the importance of collaboration between government bodies, industry players and research institutions. Such partnerships can help startups access technical expertise, research facilities and potential commercial opportunities while addressing challenges that may limit their expansion.

“Stronger collaboration between government, industry and research institutions will help innovative startups scale and contribute to India's growing bioeconomy,” Goyal added.

Regulatory processes, access to capital and intellectual property protection are important considerations for biotechnology ventures, particularly those developing products that require substantial research and development.

Expediting patent approvals and strengthening research infrastructure could help innovators protect their work and advance development, although the discussions have not outlined specific timelines or policy changes.

The outreach to biotechnology startups follows Goyal’s recent engagement with fast-moving consumer goods (FMCG) companies on expanding digital commerce.

Under the Bharat Commerce Chintan Shivir, he chaired a roundtable attended by more than 40 industry leaders to discuss ways to strengthen general trade through digital procurement, according to the Ministry of Commerce and Industry.

At the meeting, Goyal urged FMCG companies to expand the Open Network for Digital Commerce’s DigiDukaan initiative to increase digital adoption among neighbourhood kirana stores.

“ONDC's DigiDukaan shows that when open digital infrastructure is built around the needs of the small retailer, adoption follows,” Goyal said.

The retail discussions covered common digital identities for kirana store operators, shared logistics and micro-warehousing facilities, and improved access to formal credit through transaction records.

Participants also considered ways to simplify technology integration for manufacturers and distributors.

Stay tuned for more such updates on Digital Health News