India Bets Big on BioPharma SHAKTI and Chemical Parks with ₹13,000 Crore Budget Allocation

New Delhi: India is making a strategic push in the bio-pharmaceutical and chemical sectors, with a budgetary provision of ₹13,000 crore for the BioPharma SHAKTI mission and three world-class dedicated chemical parks, announced Union Minister for Chemicals and Fertilisers, Shri J P Nadda, during a post-Budget webinar.

Addressing the webinar on “Sustaining and Strengthening Economic Growth,” Shri Nadda emphasized that India’s chemical sector, currently valued at ₹19.4 lakh crore with a global share of 3%, has the potential to reach 5–6% global market share by 2030 and achieve $1 trillion turnover by 2040. The proposed chemical parks, equipped with plug-and-play utilities, advanced effluent treatment, integrated logistics, and industrial symbiosis, are expected to reduce costs by 20–40% and promote a circular economy.

On the BioPharma SHAKTI front, ₹10,000 crore has been allocated over five years to position India in the global biologics and biosimilars market. With 40% of medicines projected to be biologics by 2035 and $300 billion worth of patents expiring by 2030, India aims to capture a 1% share of the global biosimilars market, translating into an annual opportunity of ₹2 lakh crore. Strengthening institutions like NIPER, creating 1,000 clinical trial sites, and empowering the Central Drugs Standard Control Organization (CDSCO) are key steps for enhancing research, innovation, and regulatory efficiency.

Shri Nadda highlighted the importance of collective ownership and collaboration among ministries, states, industries, and institutions to realize the full potential of Budget 2026–27 initiatives. The webinar showcased a “Whole of Government” approach, bringing together policymakers, industry leaders, and domain experts to accelerate India’s growth trajectory.