Budget 2026 Boosts Biopharma Growth, Innovation Despite No New Tax Incentives: EY

• Union Budget 2026 emphasizes biopharma innovation, research infrastructure, and affordability for India's pharmaceutical and life sciences sector, as per EY.
• The Budget allocates Rs 10,000 crore for Biopharma SHAKTI and plans to expand NIPERs, create a large clinical trial network, and strengthen CDSCO.
• These measures aim to boost innovation, enhance research infrastructure, and reduce import dependence in the biopharma sector.
• Customs duty relief for cancer and rare-disease treatments continues, supporting patient affordability and access to specialized treatments.
• Despite the positive outlook, the Budget omits direct tax incentives for R&D, a long-standing industry demand, yet EY remains optimistic about India's biopharma future.

Why It Matters: Budget 2026 prioritizes biopharma innovation and infrastructure, setting a positive long-term trajectory despite lacking new R&D tax incentives.