Understanding the stakeholders and analyzing their interests helps in the better management of R&D projects. There is limited literature available about the various stakeholders involved in R&D laboratories and their classification. In this paper, authors attempted to study the stakeholders of R&D Management in public sector research laboratories in the National Capital Region (i.e. Delhi NCR) of India, involved in Life Science and Biotechnology research. The research employed a qualitative research design. The secondary data available on the websites of public sector research laboratories were curated and interviews are conducted by following the snowball sampling method and data is analyzed. As a result, a classification system is proposed.