This article examines how political economic transitions in India have shaped the trajectory of the biotech sector. With the increasing global prominence of biotechnology as a potential tool for economic growth, the Indian state also started prioritizing it. However, under the economic reforms that were initiated starting from the early 1980s, such growth is envisaged through encouraging private sector and public--private partnerships (PPP) while weakening the public sector units (PSU). Employing a political economy framework, we analyze three initiatives, namely Bharat Immunological and Biological Corporation Limited a PSU and Genomed, The Centre for Genomic Applications under PPP model established as first of its kind ventures. Our analysis shows that the PSU established with the mandate of production of affordable vaccines deviated from this role and became a part of the global value chain of vaccine market controlled by the Trans National Corporations. Similarly, the public--private initiatives have been appropriated to cater to the goals of private enterprises at the cost of public resources.
