Budget 2026: FM Sitharaman unveils Rs 10,000 crore ‘BioPharma Shakti’ to make India a global biopharma hub

Union Finance Minister Nirmala Sitharaman on Sunday announced a series of measures aimed at strengthening India’s healthcare, manufacturing, and industrial ecosystem while presenting the Union Budget 2026.

As part of the healthcare push, Sitharaman proposed the BioPharma Strategy for Health Advancement through Knowledge, Technology, and Innovation, stating that it will strengthen India’s digital healthcare ecosystem.

She also announced ‘BioPharma Shakti’, with an outlay of Rs 10,000 crore over the next five years, to support domestic production of biologics and biosimilars and position India as a global biopharma manufacturing hub.

“I propose Bio Pharma Shakti with a proposal of Rs 10,000 crore for next 5 years,” the finance minister said.

Highlighting India’s manufacturing ambitions, Sitharaman said the country has the potential to emerge as a global hub for sports goods manufacturing. She also announced the rejuvenation of 200 legacy industrial clusters as part of efforts to modernise industrial infrastructure.

Addressing broader economic challenges, Sitharaman said India would continue to move steadily towards long-term development goals despite global uncertainties.

“Today, we face an external environment in which trade and multilateralism are imperiled. And access to resources and supply chains are disrupted. New technologies are transforming production systems while sharply increasing demand on water, energy and critical minerals. India will continue to take confident steps towards Vikasit Bharat by balancing ambition with inclusion,” she said.

The announcements form part of the government’s strategy to strengthen domestic manufacturing, boost innovation, and enhance India’s position in global supply chains.