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These concerns may lead to efforts to attract leading drugmakers.
BMI said India's goal of advancing the biotech industry is at risk due to a weak intellectual property (IP) framework and a huge gap in domestic expertise.
The country's focus on general-purpose small molecules has left it with limited expertise in advanced biologics, leading to a shortage of the specialized skills and research capabilities needed for their development.
This could make it difficult to attract drugmakers to develop advanced biologics, limiting partners to produce simpler biologics.
Meanwhile, India's intellectual property rights framework has been criticized for not being in line with international standards, despite recent efforts to improve it.
“The Pharmaceutical Research and Manufacturers of America's trade association's recommendation to place India on the priority watch list for Special 301 reporting in 2024 reflects ongoing concerns from leading multinational pharmaceutical manufacturers,” the report states.
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