Budget 2026: Finance Minister Nirmala Sitharaman announced the Union Budget 2026-2027 in Parliament on Sunday. In the announcement, focusing on the healthcare sector, Sitharaman said that biological medicine is key to longevity and improving quality of life at an affordable cost. And on that front, she announced the launch of Biopharma Shakti—a strategy for improved healthcare tech, knowledge, and innovation. It aims to take India on the path of becoming a global biopharma manufacturing hub. It will be launched with an outlay of Rs 10,000 crores for the next five years.
“To develop India as a global biopharma manufacturing hub, I proposed the Biopharma Shakti with an outlay of 10,000 crores over the next five years. This will build the ecosystem,” she said. “For domestic production of biologics and biosimilars, the strategy will include a biopharma-focused network with three new national institutes of pharmaceutical education and research, popularly known as NIPERS, and upgrading seven existing ones. It will also create a network of 1,000 accredited Indian clinical trial sites. We propose to strengthen the Central Drug Standard Control Organisation to meet global standards and approve timeframes through a dedicated scientific review and specialists,” FM said this morning.