Budget proposes Rs 10,000 cr investment in biopharma over next 5 years

Finance Minister Nirmala Sitharaman on Sunday proposed Rs 10,000 crore investment in the biopharma sector over the next five years, a move which would give a boost to the country’s pharmaceuticals industry.

Biopharmaceuticals, or biologics, are complex medicines manufactured from living organisms, cells, or tissues rather than through chemical synthesis.

She also proposed interventions in six areas, including manufacturing, strategic and frontier sectors, healthcare and advanced technology.

The minister added that semiconductor mission 2.0 will focus on producing equipment and materials designed for full-stack Indian IP (intellectual property).

The India Semiconductor Mission (ISM) is a specialized, autonomous business division within Digital India Corporation under Ministry of Electronics and Information Technology (MeitY), designed to build a sustainable semiconductor and display ecosystem.

Sitharaman also announced support for mineral rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish critical mineral facilities.

She added that ‘Sabka Saath, Sabka Vikas’ is the third Kartavya of the government.

Read More: Finance Minister Nirmala Sitharaman meets President ahead of Budget speech