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Covaxin is developed by Hyderabad based Bharat Biotech International Ltd.
Covishield is developed by Oxford-AstraZeneca.
Covaxin is an inactivated vaccine where dead virus is used to teach the immune system to recognize such virus.
Whereas covishield is made using viral vector platform where common cold causing adenovirus is modified to behave like spike protein. So that the immune system can recognize when fighting such viruses.