Union Budget 2026 boosts India’s biopharma ambitions: USAIC

Washington, Feb 2 : The annual Union Budget sends a clear policy signal on biopharma and healthcare innovation, the USA India Chambers of Commerce (USAIC) said, citing new investments, expansion of clinical trial infrastructure, and steps toward global regulatory alignment.

The government’s early focus on biopharma, including the Biopharma Shakti initiative and the plan to create 1,000 clinical trial sites nationwide, reflected a decisive push to move India up the global value chain in biopharma and healthcare innovation, USAIC president Karun Rishi told IANS.

He said the Rs 10,000 crore allocation to Biopharma Shakti over five years strengthened this commitment. While modest by global benchmarks, Rishi said the investment sent a strong policy signal and supported the development of a high-value, high-skill, and technology-driven biopharma ecosystem.

Rishi said the proposed nationwide network of 1,000 clinical trial sites was a particularly important step toward strengthening India’s clinical research infrastructure.

“For over two decades, USAIC has consistently emphasised the importance of capacity building, skill development, and the expansion of ethical, high-quality clinical trials as foundational to India’s emergence as a global biopharma innovation leader,” he said.

He said the announcement reflected meaningful alignment between long-standing industry engagement and government policy action.

Rishi also welcomed the government’s intent to strengthen and restructure the Central Drugs Standard Control Organization in line with global standards and benchmarks.

He said credible regulation, science- and evidence-based decision-making, and predictable approval timelines were essential for global competitiveness in pharmaceuticals.

These priorities, he said, were strongly articulated during USAIC’s BioPharma Strategy Session in Delhi last December, including discussions with NITI Aayog leadership and senior government officials.

Beyond the pharma sector, Rishi said Budget 2026 stood out as a confident, forward-looking statement anchored in growth, inclusion, and fiscal prudence amid heightened global geopolitical and economic uncertainty.

He said the government had stayed the course on macroeconomic stability while doubling down on skills, employability, research, science, and innovation.

Rishi said this sent a clear signal that India’s growth story would be innovation-led and future-ready, even as execution would remain the true test.

USAIC commended the Finance Minister and the Government of India for what it described as decisive measures across strategic sectors.

Observing that restructuring of the CDSCO is central to global regulatory alignment, Rishi said India should now consider transitioning from observer to full member of the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use, which is consistent with India’s scientific capabilities and manufacturing scale.

He said Budget 2026 marked an important inflection point and that sustained and effective implementation could firmly anchor India’s position on the global biopharma innovation map.