Biopharma Shakti: India's Rs. 10,000 Cr Push for Global Biologics Leadership

• Union Finance Minister Nirmala Sitharaman announced the 'Biopharma Shakti' scheme with an allocation of Rs. 10,000 crores to make India a global leader in advanced life-saving medicines.
• The five-year National Mission aims to boost the production of 'Biologics' and 'Biosimilars' for treating stubborn diseases like cancer, diabetes, and autoimmune conditions.
• The scheme includes establishing 3 new NIPER pharma colleges, upgrading 7 existing ones, strengthening CDSCO for faster drug approvals, and setting up 1,000 clinical trial centers.
• The initiative addresses the rising burden of Non-Communicable Diseases (NCDs) in India, aiming to make expensive biologic medicines affordable by manufacturing them domestically.
• The announcement led to a surge in pharma sector stocks, with experts predicting India's biopharma market to reach $26.9 billion by 2034, positioning India as an 'Innovation Hub'.

Why It Matters: India launches 'Biopharma Shakti' with Rs. 10,000 Cr to become a global leader in biologics production.