India, March 31 -- India's life sciences story is no longer a "growth narrative" - it is increasingly a risk-architecture narrative. Hyderabad and Bengaluru are scaling R&D platforms. Gujarat, Telangana, Maharashtra, and Himachal continue to industrialise manufacturing depth. Exports to regulated markets are rising, and Indian companies are moving up the value chain: complex generics, injectables, biologics, specialty APIs, and increasingly, contract development and manufacturing (CDMO).

But there is an under-discussed second-order effect: as Indian pharma and biotech expand into the US and EU, they don't just export products, they import jurisdiction - and with it, a new kind of risk economy.

Compliance scrutiny is becoming balance-she...