Calling the ₹13,000-crore budgetary provision for the Bio-Pharma SHAKTI mission and three dedicated chemical parks a decisive step toward future-ready growth, Union minister for chemicals and fertilisers J P Nadda said the allocation reflects a strategic bet on India’s long-term economic and industrial transformation.
Addressing the post-Budget webinar on ‘Sustaining and Strengthening Economic Growth,’ Nadda underlined that free trade agreements (FTAs) are critical gateways for Viksit Bharat and open new global expansion opportunities for Indian industries.
₹10,000 Cr BioPharma Mission: Key To Biologics
Noting that India earned the title of ‘Pharmacy of the World’ through its dominance in generics, Nadda said the global pharmaceutical landscape is undergoing a structural shift. By 2035, biologics are expected to account for nearly 40% of global medicines, while patents worth $300 billion are set to expire by 2030.
“This is the moment to move towards biologics,” he said, announcing that ₹10,000 crore has been earmarked over the next five years under the BioPharma Mission to drive innovation, scale biosimilars and strengthen India’s global competitiveness.
He added that even a 1% share in the global biosimilars market could translate into an annual ₹2 lakh crore opportunity for India, positioning the country as a significant player in high-value pharmaceutical innovation.
Strengthening Institutions And Regulatory Ecosystem
The minister emphasised the need to reinforce key institutions such as National Institute of Pharmaceutical Education and Research (NIPER) by integrating them more closely with talent and skill development ecosystems.
Plans are underway to develop 1,000 clinical trial sites across the country to boost research capacity and innovation output. He also highlighted the importance of strengthening the Central Drugs Standard Control Organization (CDSCO) to enable faster regulatory approvals and support growth in biosimilars and drug fermentation.
₹3,300 Crore For World-Class Chemical Parks
Turning to the chemical sector, Nadda noted that India’s chemical output currently stands at ₹19.4 lakh crore, with strengths in segments such as dyes and agrochemicals. However, the country’s global share remains modest at 3%.
To bridge the infrastructure gap, ₹3,300 crore has been allocated for three world-class chemical parks featuring plug-and-play utilities, advanced effluent treatment systems, integrated logistics and built-in safety mechanisms.
These parks are expected to deliver 20–40% cost reductions through industrial symbiosis and foster a circular economy by design. The government has set an ambitious target of increasing India’s global chemical sector share to 5–6% by 2030 and achieving a $1 trillion turnover by 2040.
Collaborative Growth Framework
Highlighting the importance of collective ownership in sustaining economic growth, Nadda said progress cannot be achieved through isolated efforts. He called for deeper collaboration across ministries, states and industry stakeholders.
With targeted investments in bio-pharma innovation and chemical infrastructure, the government has signalled a long-term commitment to building globally competitive, high-value manufacturing ecosystems aligned with the vision of Viksit Bharat.