The Union Budget 2026-27 introduced the 'Biopharma SHAKTI' scheme. What is the primary objective of this ₹10,000 crore initiative?
To transform India into a manufacturing hub for biologics and biosimilars
The Union Budget 2026-27 launched the Biopharma SHAKTI scheme with an outlay of ₹10,000 crore. The initiative aims to establish India as a global manufacturing hub for biologics and biosimilars by boosting research, development and large-scale production capacity.
The scheme supports domestic biopharma firms through infrastructure funding, incentives for innovation and encouragement of public-private partnerships. It aligns with the Atmanirbhar Bharat vision, aiming to reduce import dependence on advanced biologic drugs and strengthen India's position in global healthcare supply chains.
Hence, the correct answer is To transform India into a manufacturing hub for biologics and biosimilars.
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