indiamarkets spoke to Dr J R Arora, Advisor, Department of Biotechnology, Ministry of Science and Technology, Govt of India.

Speaking on assistance to entrepreneurs interested in entering the biotechnology field, he said, “We have recently been considering venture capital initiatives in this field. We now have a division called the Technology Transfer Division, which identifies projects that are at a stage when they can be developed further. Many companies, which are interested in buying technology from us, have approached us and some have already signed MoUs.  We are working on some venture capital initiatives, which could be used by SSIs.”

The entry of new drugs in the future through biotechnology will mean that the Department plays its role. He said, “In the development of new drugs, the Department does have a role to play. It has to put in place regulatory mechanisms. This means formulating safety procedures for introduction of new drugs. The Drug Controller will have an important role in regulating the new drugs. Research institutes will help in defining guidelines.”