Union Budget 2026: Comment by Shri Abhay Kumar Shrivastava Chair PHDCCI Pharmaceutical Manufacturing Committee

The Union Budget 2026 proposes an allocation of ₹10,000 crore over five years under the Biopharma Shakti programme to strengthen domestic manufacturing of biologics and biosimilars. This will create the right ecosystem to shift India’s image from a Generic Hub to an Innovative Hub for the world. The initiative includes a dedicated biopharma institutional ecosystem with 3 new NIPERs and upgradation of 7 existing NIPERs, supporting advanced research, skill development, and building a future-ready pool for Young India. The BCD exemption for 17 cancer drugs and medicines for 7 rare diseases, including Food for Special Medical Purposes, will directly benefit public health. Shri Abhay Kumar Shrivastava Chair PHDCCI Pharmaceutical Manufacturing Committee – Shri Abhay Kumar Shrivastava Chair PHDCCI Pharmaceutical Manufacturing Committee