GOVERNMENT OF INDIA

India Launches Biopharma SHAKTI Initiative, Targets 100 Biologics by 2047 to Become Global Biopharma Hub

- India's Biopharma SHAKTI 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. - Government programs including the PRIP Scheme, National Biopharma Mission, and BIRAC initiatives are building a robust ecosystem for biopharma research, clinical trials, and manufacturing.