New Delhi: India is poised to lead the global pharmaceutical landscape due to its focus on biologics, biosimilars and specialty medicines, Health Minister JP Nadda said on Monday.
The minister highlighted that the government recently launched Biopharma Shakti Initiative with an outlay of Rs 10,000 crore, to advance capabilities in biopharmaceutical innovation, foster innovation and strengthen research capabilities.
Union Minister of State for Health and Family Welfare, Anupriya Patel, underlined the need for industry to intensify its focus on innovation-driven segments as innovative drugs account for nearly 87 per cent of the global pharmaceutical market value, the statement said.
Nadda mentioned complementary initiatives such as PRIP scheme for promoting research in pharmaceuticals and medical technology, Production-Linked Incentive programmes, and Pradhan Mantri Bharatiya Jan Aushadhi Pariyojana, supporting domestic manufacturing, affordable access to medicines, and deepening industry-academia collaboration as well as development of innovative therapies.
He added that the 'India Pharma 2026' event provides a vital platform to foster dialogue, partnerships, and a forward-looking roadmap for the sector.
India is undergoing a significant transition from being a global generics leader to an emerging biopharma innovation hub, Patel said.
The country currently contributes nearly 20 per cent of global generic medicines and meets around 70 per cent of global vaccine demand, underscoring the country’s robust manufacturing capabilities, she added.
Emphasising future opportunities, Patel said that the global demand for biologics and biosimilars is expanding rapidly, with the biosimilars market projected to reach $75 billion by 2030.
She stressed focusing on human capital through premier institutions such as NIPERs and IITs to support advanced research and innovation.
The ministers attended 9th edition of 'India Pharma 2026', a two-day conference organised by the Department of Pharmaceuticals (DoP), in collaboration with FICCI and the Indian Pharmaceutical Alliance (IPA). The event brings together key stakeholders from across the global pharmaceutical and healthcare ecosystem, with a strong focus on innovation, self-reliance, and global leadership.
This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.