Presenting the Budget in Parliament, Sitharaman said the initiative is aimed at creating a robust ecosystem for biopharma and biosimilars, strengthening domestic capabilities and boosting India’s global competitiveness in high-value pharmaceutical manufacturing

She noted that India is navigating a challenging global environment where trade and multilateralism are under strain, access to resources and supply chains is disrupted, and rapid technological change is reshaping production systems while increasing pressure on water, energy and critical minerals