New Delhi: Union Minister J P Nadda said the Centre’s ₹13,000 crore provision for BioPharma SHAKTI and three dedicated chemical parks marked a strategic bet on India’s future growth.
Addressing a post-Budget webinar on “Sustaining and Strengthening Economic Growth” on Tuesday, he said the allocation would strengthen India’s pharmaceutical and chemical sectors. He added that Free Trade Agreements would open new global opportunities for Indian industries.
Nadda noted that India earned the tag of “Pharmacy of the world” through generics. However, he said 40% of global medicines would be biologics by 2035. Moreover, patents worth $300 billion will expire by 2030, creating space for new players. Therefore, the government has allocated ₹10,000 crore over five years under BioPharma SHAKTI to push the shift toward biologics.
He said even a 1% share in the global biosimilars market could generate an annual opportunity of ₹2 lakh crore for India. In addition, he called for strengthening institutions such as NIPER and expanding 1,000 clinical trial sites nationwide to boost research capacity.
BioPharma SHAKTI and chemical parks to lift global share
The Minister said India’s chemical sector output currently stands at ₹19.4 lakh crore, with a global share of 3%. To bridge infrastructure gaps, the government has earmarked ₹3,300 crore for three world-class chemical parks with plug-and-play utilities and advanced effluent systems.
He said these parks could reduce costs by 20–40% through industrial symbiosis and promote a circular economy. Furthermore, he outlined a target to raise India’s global chemical sector share to 5–6% by 2030 and achieve a $1 trillion turnover by 2040.
Nadda emphasised that sustained economic growth requires collective ownership. He described the post-Budget webinars as an example of a whole-of-government approach, bringing together policymakers, industry leaders and experts to ensure effective implementation of Budget 2026–27 announcements.
