Union Budget 2026: FM Sitharaman Unveils ₹10,000 Crore Biopharma Shakti Initiative
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CNBC TV18•01-02-2026, 17:22
Union Budget 2026: FM Sitharaman Unveils ₹10,000 Crore Biopharma Shakti Initiative
- •Finance Minister Nirmala Sitharaman announced ₹10,000 crore for Biopharma Shakti over the next five years in the Union Budget 2026.
- •The initiative aims to build an ecosystem for domestic production of biologics and biosimilars, with ₹500 crore allocated for FY2026–27.
- •Key strategies include establishing three new NIPERS, upgrading seven existing ones, and creating a network of 1,000 accredited Indian clinical trial sites.
- •The budget also proposes strengthening the Central Drug Standard Control Organisation and launching a scheme to support states in establishing five regional medical hubs.
- •Industry leaders like Kiran Mazumdar Shaw and Dr Saurabh Arora lauded the initiative as a significant investment in India's health, innovation, and biopharma manufacturing future.
Why It Matters: Union Budget 2026 allocates ₹10,000 crore to boost India's biopharma sector, focusing on domestic production and research.
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