By Suman Munshi | IBG NEWS
New Delhi, June 11, 2026: India is well-positioned to emerge as a global leader in the rapidly expanding biopharmaceutical industry, with the government strengthening innovation, manufacturing, clinical research and regulatory infrastructure to accelerate growth in the sector, Union Minister of State for Chemicals & Fertilizers Smt. Anupriya Patel said on Thursday.
Speaking at the 2nd Pharma Summit & Awards 2026, organized by ASSOCHAM in New Delhi, the Minister highlighted the government’s vision of transforming India into a major global hub for biopharmaceuticals through policy support and strategic investments.
Smt. Patel announced that the Biopharma SHAKTI initiative aims to facilitate the development and launch of 100 biologic products by 2047, aligning with the national goals of Viksit Bharat and Swasth Bharat.
She said the government has established strong funding mechanisms and policy frameworks across the pharmaceutical value chain to encourage innovation and accelerate the growth of advanced therapeutics.
The Minister noted that biologics are projected to account for nearly 40% of global prescription medicines by 2031, making it essential for India to expand its capabilities in next-generation biologics and biosimilars while continuing its global leadership in affordable generic medicines.
She emphasized that the country’s pharmaceutical sector must leverage this opportunity to move up the value chain by investing in cutting-edge research, advanced manufacturing and technology-driven healthcare solutions.
Highlighting ongoing policy measures, Smt. Patel said programmes such as the PRIP Scheme and the National Biopharma Mission are helping create a robust ecosystem for research, innovation and manufacturing.
She also pointed to several BIRAC initiatives—including the Biotech Ignition Grant (BIG), Small Business Innovation Research Initiative (SBIRI) and Biotechnology Industry Partnership Programme (BIPP)—which are supporting industrial innovation and encouraging the commercialization of biotechnology research.
Calling for greater collaboration between industry, researchers and policymakers, she urged stakeholders to strengthen India’s position in the development of novel biologics while maintaining its competitive advantage in small-molecule drugs and affordable medicines.
Addressing the summit, Manoj Joshi, Secretary, Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, stressed the importance of accelerating drug discovery, promoting innovation and strengthening India’s emerging biopharmaceutical capabilities.
He also highlighted the need to build resilient pharmaceutical supply chains and expand research infrastructure to enhance India’s competitiveness in the global biopharmaceutical value chain.
According to him, the Biopharma SHAKTI initiative seeks to position India as a leading destination for the development and manufacturing of high-value biologics and biosimilars while creating a skilled workforce and strengthening clinical research capabilities.
During the event, Union Minister Smt. Anupriya Patel also presented the Pharma Excellence Awards, recognizing outstanding contributions and achievements by individuals and organizations across India’s pharmaceutical sector.
The summit brought together policymakers, industry leaders, researchers and innovators to discuss the future of India’s pharmaceutical and biotechnology industries and strategies for enhancing the country’s global competitiveness.
Source: PIB
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