The company claims that it is probably the first in the world to file for a global patent for Zika vaccine candidates which it calls Zikavac.
The candidates include a recombinant vaccine and an inactivated vaccine, which has reached the stage of pre-clinical testing in animals.
Bharat Biotech chairman & managing director Krishna Ella said: "The first thing is to be prepared for the worst.
"We hope to announce its arrival of Zikavac to the world as early as possible."
The Zika virus is spread by mosquitoes of the Aedes genus. Its symptoms of the virus include fever, rash, joint pain, itching, conjunctivitis or red eyes, headache, muscle pain, and eye pain.
French drugmaker Sanofi has recently launched a project to develop a vaccine against the Zika virus, which has already spread to 23 countries in Latin America.
In an other development, the UK Government has announced a rapid response call for research applications intended at addressing the risk posed by the virus.
The government is allocating £1m of financing to fast-track Zika research. It has recently advised pregnant women to consider delaying travel to countries with ongoing virus outbreaks.
The money, which will be made available via the UK Medical Research Council, will be used for researchers to investigate several aspects of the infection including its transmission and the possible links to neurological conditions such as microcephaly and others.
The Centers for Disease Control and Prevention (CDC) in the US has issued an updated guidance for pregnant women after health officials found a case of virus infection after having sex with a person who had recently visited Venezuela.
The CDC directive said: "Until we know more, if your male sexual partner has traveled to or lives in an area with active Zika virus transmission, you should abstain from sex or use condoms the right way every time you have vaginal, anal, and oral sex for the duration of the pregnancy."
Meanwhile, Florida state in the US has declared emergency in four counties.
Florida Governor Rick Scott said: "Today I am directing Surgeon General Dr. John Armstrong to declare a public health emergency in the four counties that have individuals with the Zika virus.
"Although Florida’s current nine Zika cases were travel-related, we have to ensure Florida is prepared and stays ahead of the spread of the Zika virus in our state.
"Our Department of Health will continue to be in constant communication with all county health offices, hospitals and the Federal Centers for Disease Control and Prevention (CDC). We know that we must be prepared for the worst even as we hope for the best."
Image: The Zika virus is spread by mosquitoes of the Aedes genus. Photo: courtesy of the UK Medical Research Council.