India Announces Significant Investment in BioPharma and Chemical Parks

The government of India has announced a budgetary provision of ₹13,000 crore for Bio-Pharma SHAKTI and three dedicated chemical parks, with an aim to significantly enhance India's role in the global chemical sector. At a post-budget webinar, Union Minister of Chemicals and Fertilisers Shri J P Nadda discussed how these initiatives align with the country's strategic growth objectives, including increasing the global market share in chemicals to 5-6% by 2030 and achieving a turnover of $1 trillion by 2040. The initiative underscores India's commitment to advancing biologics and biosimilars, strengthening infrastructure, and fostering collective growth across governmental and industrial sectors.

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