The Lok Sabha has passed the Regional Centre for Biotechnology Bill, 2016. The Bill seeks to establish a Regional Centre for Biotechnology, an institution of education, training and research, under the auspices of United Nations Educational, Scientific and Cultural Organization (UNESCO) in the National Capital Region and declare it to be an institution of national importance. The Regional Centre for Biotechnology will take up research and innovation and impart education and training in the new areas of Biotechnology at the interface of multiple disciplines of science creating a hub of technology expertise.

Biotechnology sector is one of the fastest growing knowledge-based sectors and the Indian biotech industry grew threefold in just five years. With numerous comparative advantages in terms of research and development (R&D) facilities, knowledge, skills, and cost effectiveness, the biotechnology industry in India has immense potential to emerge as a global key player. A rich and varied bio-diversity, a flourishing pharmaceutical industry, strong IT skills have also provided favourable environment.

India is now a leading manufacturer of vaccines at an affordable cost, for example, making a recombinant DNA Hepatitis-B vaccine available at a price that is 40 times lower with such a high quality that it has captured major share of this market. Recently, the Department of Biotechnology has prepared the National Biotechnology Development Strategy-2015-2020.