India’s Union Budget 2026 Signals Strong Support for BioPharma Sector, Says USAIC
Washington, February 2: The US India Chambers of Commerce (USAIC) has welcomed the Union Budget 2026, highlighting the government’s clear intent to promote bio-pharma and healthcare innovation. The budget introduces new investments, expansion of clinical trial facilities, and steps to align with global regulatory standards.
Karun Rishi, President of USAIC, told news agencies that the government has consistently prioritized bio-pharma from the outset. Initiatives like the BioPharma Power program and plans to establish 1,000 clinical trial centers nationwide exemplify this focus. He emphasized that these efforts will help India advance in the global bio-pharma and healthcare innovation value chain.
Rishi noted the allocation of ₹10,000 crore over five years for the BioPharma Power initiative. While this amount may not be very large on a global scale, it clearly reflects the government’s serious commitment. The investment is expected to support the development of advanced technology, skilled human resources, and the valuable bio-pharma sector.
He described the creation of a network of 1,000 clinical trial centers across India as a crucial step to strengthen the country’s clinical research infrastructure. USAIC has emphasized skill development, capacity building, and ethical, high-quality clinical trials for over two decades.
Rishi also praised the evident alignment between industry and government perspectives in the budget. He welcomed the government’s intention to strengthen and restructure the Central Drugs Standard Control Organization (CDSCO) in line with global benchmarks, stressing that reliable regulations, science-based decisions, and timely approvals are essential for the pharmaceutical industry’s global competitiveness.
He recalled that these priorities were strongly advocated during USAIC’s bio-pharma strategy session held in Delhi last December, which included discussions with the Policy Commission and senior government officials.
Beyond pharma, Rishi observed that Budget 2026 focuses on growth, inclusion, and fiscal balance despite global political and economic uncertainties. The government continues to emphasize skills, employment, research, science, and innovation while maintaining economic stability.
He stated that this signals India’s growth journey will be innovation-driven and future-ready, though successful implementation remains the real test.
USAIC praised the Finance Minister and the Indian government for decisive steps in strategic sectors. Karun Rishi suggested that India should now consider becoming a full member of the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH), reflecting the nation’s scientific capabilities and manufacturing standards.
He concluded that Budget 2026 marks a significant turning point for bio-pharma, and if implemented effectively, India could secure a strong position on the global bio-pharma innovation map.
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My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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