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. ADVERTISEMENTIn the Union Budget 2026-27 speech, Sitharaman also announced plans to establish 1,000 accredited clinical trial sites in the country. “To develop India as a global biopharma manufacturing hub, I propose the Biopharma SHAKTI with an outlay of ₹10,000 crore over the next five years. “We will launch ISM 2.0 to produce equipment and materials, design full-stack Indian IP, and fortify supply chains,” she said. “The Electronics Components Manufacturing Scheme, launched in April 2025 with an outlay of ₹22,919 crore, already has investment commitments at double the target.

Source: The Telegraph February 02, 2026 02:54 UTC