India Launches Biopharma SHAKTI Initiative, Targets 100 Biologics by 2047 to Become Global Biopharma Hub
Key Insights
India's Biopharma SHAKTI (search) initiative aims to launch 100 biologics by 2047, positioning the country as a global leader in biopharmaceutical development and manufacturing.
Biologics are projected to account for nearly 40% of prescription drugs by 2031, driving India's strategic pivot beyond generics into innovation-led pharmaceuticals.
The Indian pharmaceutical industry, currently valued at $60 billion, can double in size over the next five years, according to Commerce Minister Piyush Goyal.
India is charting an ambitious course to transform itself into a global biopharmaceutical powerhouse, with the government unveiling the Biopharma SHAKTI (search) initiative that envisions the launch of 100 biologics by 2047. The announcement was made by Smt. Anupriya Patel, Union Minister of State for Chemicals & Fertilizers, at the 2nd Pharma Summit & Awards 2026 organized by ASSOCHAM (search) in New Delhi.
The initiative represents a strategic pivot for India's pharmaceutical sector, which has long been recognized as the "pharmacy of the world" for affordable generic medicines. With biologics expected to account for nearly 40% of prescription drugs by 2031, the government is moving decisively to capture a significant share of this high-value segment.
"Biopharmaceuticals are shaping the future of modern healthcare and India is well-positioned to emerge as a global leader in this transformative sector," said Smt. Anupriya Patel. "The Government of India is committed to strengthening innovation, manufacturing, clinical research, and regulatory capabilities to make India a leading global biopharmaceutical hub."
A $60 Billion Industry Poised to Double
The scale of India's pharmaceutical ambitions was further underscored by Union Minister of Commerce & Industry Shri Piyush Goyal, who stated that India's pharmaceutical industry, currently valued at approximately $60 billion, can double in size over the next five years. Speaking at the Global Ambassador Meet on Pharmaceutical Sector in New Delhi, Goyal emphasized that India is "looking to move beyond generics into innovation-driven pharmaceutical products while continuing to provide affordable medicines to patients across the world."
Goyal highlighted three defining strengths of India's pharmaceutical sector: trust, innovation, and partnerships. On trust, he noted that approximately 65-70% of World Health Organization vaccine requirements are sourced from India, and 10 of the world's 25 largest generic pharmaceutical companies operate from the country. India also holds the distinction of having the highest number of US FDA (search)-approved pharmaceutical manufacturing plants outside the United States.
Building the Innovation Ecosystem
The government has established multiple funding and policy pathways to support the biopharma transition. Shri Manoj Joshi, Secretary of the Department of Pharmaceuticals, stressed the need to "strengthen innovation, accelerate drug discovery, support emerging biopharma capabilities, and build greater supply chain resilience."
Key programs underpinning this ecosystem include the PRIP Scheme, the National Biopharma Mission, and several BIRAC (search) initiatives such as the Biotech Ignition Grant, SBIRI (Small Business Innovation Research Initiative), and BIPP (Biotechnology Industry Partnership Programme). These programs are designed to support industrial and manufacturing-related innovations across the pharmaceutical value chain.
Goyal also referenced a $10 billion program announced by the government to support innovation across sectors, including pharmaceuticals, and noted that India's patent filings have increased by nearly 100% in recent years.
Global Partnerships and Market Access
India is actively courting international collaboration. Goyal invited global pharmaceutical companies to "establish a stronger presence in India and benefit from the opportunities presented by a market of 1.4 billion people, a rapidly expanding middle class, rising incomes and sustained economic growth."
The Minister emphasized that India is prepared to provide market access to high-quality innovative pharmaceutical products from partner countries, noting that India has received preferential market access, including zero-duty access for many pharmaceutical products, under its free trade agreements. India has entered into nine Free Trade Agreements in recent years, with trade agreements now covering more than 50 countries.
The Generic Medicine Foundation
While pivoting toward innovation, India's leadership in affordable generics remains central to its global value proposition. Goyal noted that while generic medicines account for 80-90% of the volume of medicines sold in the United States, they represent only about 10-15% of the value, "underlining the affordability and societal value of generic medicines."
India's competitive advantage, Goyal explained, "lies not only in its talent pool but also in significantly lower operating costs compared to advanced economies." The country has also aligned its Good Manufacturing Practices framework with global benchmarks.
Pandemic Lessons and Future Vision
Reflecting on India's role during the COVID-19 pandemic, Goyal noted that more than 100 countries received medicines from India free of cost, and every country that approached India for pharmaceutical support was provided medicines at prices prevailing before the pandemic. "India ensured that traders and intermediaries were not allowed to profit from the global health emergency," he stated.
The Biopharma SHAKTI (search) initiative contributes directly to the goals of Viksit Bharat (Developed India) and Swasth Bharat (Healthy India), with Joshi underscoring that the initiative would "strengthen research and innovation, expand clinical research infrastructure, build a skilled workforce, and enhance India's competitiveness in the global biopharmaceutical value chain."