Organisation will be strengthened to support biosimilars-fermentation of drugs
Budgetary Provision of Rs.13,000 crore for Bio-Pharma SHAKTI and 3 dedicated Chemical Parks in the country is a strategic bet on India’s future, said Minister of Chemicals and Fertilisers J P Nadda at a post-Budget Webinar on the theme “Sustaining and Strengthening Economic Growth” on 3 Mar.
Noting that India became ‘Pharmacy of the world’ through generics, the Minister said 40% of medicines globally will be biologics by 2035 as US$300 billion worth patents are expiring by 2030 https://ipapharma.net/.
“Now is the time to move towards Biologics and India is committed to face the challenge with the BioPharma Mission,” he stressed, adding that a budget of Rs.10,000 crore has been allocated to be utilized over next five-years for this mission.
A 1% share in the global biosimilars market, could translate into an annual opportunity of Rs.2 lakh crore for India, he added.
“It is essential to strengthen institutions like NIPER (National Institute of Pharmaceutical Education and Research) by integrating them more closely with talent and skill development. Developing 1,000 clinical trial sites across the country will enhance research capacity and innovation,” said Nadda, emphasising the role of Central Drugs Standard Control Organization (CDSCO) for faster regulatory approvals.
He added that the organisation will be strengthened to support biosimilars and fermentation of drugs.
Nadda highlighted that while India’s chemical sector’s output is worth Rs.19.4 lakh crore and is strong in segments like dyes and agrochemicals, its global share remains at 3% https://www.bseindia.com/.
Identifying infrastructure as the key gap, the Minister said Rs.3,300 crore for 3 dedicated world-class chemical parks across the country with plug-and-play utilities, advanced effluent treatment systems, integrated logistics, and built-in safety mechanisms would address that gap.
“These parks are expected to enable 20–40% cost reduction through industrial symbiosis and promote a circular economy by design,” said the Minister, outlining an ambitious vision to increase India’s global chemical sector share to 5–6% by 2030 and achieve a US$1 trillion turnover by 2040.
Highlighting the importance of collective ownership, Nadda stated that sustained economic growth requires active participation and shared responsibility among all stakeholders https://www.nseindia.com/.
He described the webinar itself as a living example of this approach, showcasing coordinated efforts across sectors and institutions, and stressed that progress cannot be achieved through isolated efforts and called for deeper collaboration across ministries, states, and industry.
He appreciated the deliberations through the day and described it as a positive contribution towards realisation Budget 2026-27 announcements.
The post budget webinar brought together policymakers, industry leaders, financial institutions, and domain experts to deliberate on strategies for accelerating India’s growth trajectory and ensuring effective implementation of Budget 2026–27 announcements. Fiinews.com
