Union Minister J P Nadda allocates ₹13,000 crore for Bio-Pharma SHAKTI Mission and three Chemical Parks.

Key facts

• Union Minister of Chemicals and Fertilisers Shri J P Nadda announced a Budgetary provision of ₹13,000 crore for the Bio-Pharma SHAKTI Mission and three dedicated Chemical Parks.
• ₹10,000 crore of the allocation is earmarked for the Bio-Pharma SHAKTI Mission over the next five years.
• The global pharmaceutical market is expected to have 40% biologics by 2035, with patents worth $300 billion expiring by 2030.
• Securing a 1% share of the global biosimilars market could create an annual opportunity of ₹2 lakh crore for India.
• Plans include developing 1,000 clinical trial sites across the country to expand research and innovation capacity.
• The Central Drugs Standard Control Organization (CDSCO) will be strengthened to ensure faster regulatory approvals.
• India’s chemical industry currently generates output worth ₹19.4 lakh crore and holds a 3% global share.
• ₹3,300 crore is allocated for developing three world-class chemical parks aimed at reducing costs by 20–40% through industrial symbiosis.
• The roadmap targets raising India’s global chemical sector share to 5–6% by 2030 and achieving a $1 trillion turnover by 2040.