The government has proposed the Biopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation) initiative in the Union Budget 2026-27 to position India as a global biopharmaceutical manufacturing hub. The initiative will be launched with a total outlay of 10 thousand crore over the next five years and aims to build a strong ecosystem for the domestic production of biologics and biosimilars.

 

Indian pharmaceutical industry ranks 3rd globally by volume and 11th by value, with more than 3 thousand companies and 10 thousand 500 manufacturing units. As per the Economic Survey 2025-26, in Financial Year 2025 the sector’s annual turnover reached Rs. 4.72 lakh crore rupees, with exports growing at a CAGR of 7 per cent over the last decade. India is the largest global supplier of generic medicines, accounting for around 20 per cent of global supply, manufacturing about 60 thousand generic brands across 60 therapeutic categories.