Budgetary provision of Rs. 13,000 crore for Bio-Pharma SHAKTI and 3-dedicated chemical parks within the nation plan bet on India’s future mentioned Union Minister of Chemicals and Fertilisers J. P. Nadda addressing the post-budget webinar on the theme “Sustaining and reinforcing Economic Growth”.
Observing that India became ‘Pharmacy of the world’ through generics, the minister stated 40% of medicines worldwide will be biologics by 2035. $300 billion worth patents are expiring via 2030. Now is the time to move towards biologics and India is dedicated to confront the challenge with the BioPharma Mission. A budget of Rs. 10,000 crore has been allotted to be applied over next 5-years for this mission.
A 1% share in the global biosimilars market, may change into an annual opportunity of Rs. 2 lakh crore for India, brought Nadda.
The minister stated that it is important to reinforce institutions like NIPER by incorporating them more carefully with talent and skill development. Developing 1,000 clinical trial sites across the nation will improve research capacity and development. Highlighting the function of Central Drugs Standard Control Organization (CDSCO) for faster regulatory approvals, the minister stated the organization will be reinforced to support biosimilars and fermentation of drugs.
Nadda emphasized that while India’s chemical sector’s output is worth Rs.19.4 lakh crore and is robust in segments like dyes and agrochemicals, its global share stays at 3%.
Identifying infrastructure as the main gap, the minister stated that Rs. 3,300 crore for 3 dedicated global-class chemical parks across the nation with plug-and-play utilities, superior effluent treatment systems, incorporated logistics, and built-in safety mechanisms would cope with that gap. These parks are anticipated to allow 20–40% cost reduction by industrial symbiosis and promote a circular economy by design. Nadda mentioned an ambitious vision and India’s global sector share to 5–6% by 2030 and attain a $1 trillion turnover by using 2040.
Emphasizing the importance of collective ownership, Nadda said that sustained economic development needs active participation and shared responsibility among all stakeholders. He defined the webinar itself as a living example of this approach, showcasing coordinated efforts throughout sectors and institutions.
He stressed that progress cannot be carried out by isolated efforts and known as for deeper collaboration across ministries, states, and industry. He appreciated the deliberations by the day and described it as a positive contribution towards realisation Budget 2026-27 announcement.
The post budget webinar became second in the series that brought together policymakers, industry leaders, financial institutions, and domain experts to deliberate on strategies for increasing India’s growth trajectory and making sure effective implementation of Budget 2026–27 announcements.
