Budget 2026 backs biopharma and chip making with SHAKTI fund and ISM 2.0 push

Finance minister Nirmala Sitharaman on Sunday proposed ₹10,000 crore investment over the next five years to develop India as a biopharma manufacturing hub, set up 1,000 clinical trial sites and strengthen the Central Drugs Standard Control Organisation.

Biopharmaceuticals are complex medicines manufactured from living organisms, cells, or tissues rather than through chemical synthesis.

In the Union Budget 2026-27 speech, Sitharaman also announced plans to establish 1,000 accredited clinical trial sites in the country.