Indian Economy News

Biopharmaceuticals are Shaping the Future of Modern Healthcare, India Well-Positioned to Emerge as a Global Leader

India is taking significant strides towards becoming a global leader in the biopharmaceutical sector, with the Government of India intensifying efforts to strengthen innovation, manufacturing, clinical research, and regulatory capabilities. Speaking at the 2nd Pharma Summit & Awards 2026 organised by ASSOCHAM in New Delhi, Union Minister of State for Chemicals & Fertilizers Ms. Anupriya Patel highlighted the strategic importance of biopharmaceuticals in shaping the future of healthcare. The statement further emphasised that the Biopharma SHAKTI initiative envisions the launch of 100 biologics by 2047, supporting the broader goals of Viksit Bharat and Swasth Bharat. The government has established strong policy and funding frameworks across the pharmaceutical value chain to accelerate growth and innovation in the sector. With biologics projected to account for nearly 40% of global prescription drugs by 2031, India is focused on enhancing its capabilities in advanced biologics while maintaining its leadership in affordable generic medicines.

The statement also underscored that initiatives such as the PRIP Scheme and the National Biopharma Mission are fostering a robust ecosystem for research, innovation, and manufacturing. Industrial and manufacturing innovations are also being supported through BIRAC programmes, including the Biotech Ignition Grant (BIG), Small Business Innovation Research Initiative (SBIRI), and Biotechnology Industry Partnership Programme (BIPP). These interventions are helping startups, researchers, and industry players develop novel biologics and advanced therapies. Addressing the summit, Department of Pharmaceuticals Secretary Mr. Manoj Joshi stressed the need to accelerate drug discovery, strengthen supply chain resilience, and build emerging biopharma capabilities. The statement further noted that the Biopharma SHAKTI initiative would enhance clinical research infrastructure, develop a skilled workforce, and strengthen India’s competitiveness in the global biopharmaceutical value chain. The event also witnessed the presentation of Pharma Excellence Awards, recognising outstanding contributions across the pharmaceutical industry.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.