The government has proposed the Biopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation) initiative in the 2026-27 Union Budget to position India as a global biopharmaceutical manufacturing hub. The initiative, with a total budget of 10 thousand crore rupees over the next five years, aims to create a robust ecosystem for the domestic production of biologics and biosimilars.
The Indian pharmaceutical industry ranks 3rd globally by volume and 11th by value, with over 3 thousand companies and 10 thousand 500 manufacturing units. According to the 2025-26 Economic Survey, the sector's annual turnover reached Rs. 4.72 lakh crore in the financial year 2025, 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 approximately 20 per cent of global supply, and manufacturing around 60 thousand generic brands across 60 therapeutic categories.