FACTORS DETERMINING THE INNOVATION IN BIOTECHNOLOGY INDUSTRY IN INDIA: A CROSS-SECTIONAL STUDY

Several key factors contribute to the innovation in the biotechnology industry in India. Firstly, the strong presence of skilled scientific talent in the country plays a crucial role. India boasts a robust pool of highly qualified researchers, scientists, and engineers who are actively engaged in cutting-edge research and development. Secondly, supportive government policies and initiatives have fostered an environment conducive to innovation. The Indian government has implemented favorable regulations, tax incentives, and funding schemes to promote biotechnology research and entrepreneurship. Additionally, collaborations between academia, industry, and research institutions have significantly contributed to innovation by facilitating knowledge exchange and resource sharing. Furthermore, the availability of advanced infrastructure and state-of-the-art facilities in biotechnology parks and research institutes has accelerated innovation. Finally, the growing market demand for healthcare solutions, agriculture advancements, and environmental sustainability has created a strong market pull for innovative biotechnology solutions, encouraging companies and researchers to push the boundaries of scientific discovery. Collectively, these factors have propelled the innovation in India's biotechnology industry, positioning the country as a significant player in the global biotech arena. The researcher had considered people from biotechnology industry to know the factors that determines innovation in biotechnology industry in India and found that Microbial fermentation, Stem cell research, Technological innovation in bio pharma, Positive psychological capital, Biotechnology interventions in agricultural sector and Bioinformatics determines innovation in biotechnology industry in India