India Launches Rs 10,000-Crore Biopharma Shakti Hub Initiative
Centre Forms Inter-Ministerial Panel To Shape Rs 10,000-Crore Biopharma Shakti Hub Scheme
News 18
Image: News 18
The Indian government has established an inter-ministerial panel to oversee the Biopharma Shakti Hub scheme, a ₹10,000 crore (approximately $1.2 billion USD) initiative aimed at enhancing India’s position in the global biopharmaceutical sector. The scheme focuses on advancing the manufacturing of next-generation biological medicines, building on the existing National Biopharma Mission.
- 01The Biopharma Shakti Hub scheme is a ₹10,000 crore initiative announced in the Union Budget.
- 02An inter-ministerial panel has been formed to prepare and monitor the scheme.
- 03The initiative aims to position India as a global manufacturing hub for biological medicines.
- 04It builds on the previous National Biopharma Mission, focusing on commercial manufacturing.
- 05The scheme will enhance India's capabilities in biologics and biosimilars, addressing regulatory and industry challenges.
Advertisement
In-Article Ad
The Indian government has formed an inter-ministerial panel to oversee the Biopharma Shakti Hub scheme, a ₹10,000 crore (approximately $1.2 billion USD) initiative aimed at establishing India as a global leader in the production of next-generation biological medicines. Announced by Finance Minister Nirmala Sitharaman in the Union Budget, the scheme brings together key stakeholders, including the Ministry of Health and Family Welfare, the Department of Biotechnology, and the Indian Council of Medical Research. The panel, led by Manoj Joshi, Secretary of the Department of Pharmaceuticals, has already held two meetings to refine the policy framework. This initiative builds on the National Biopharma Mission, launched in 2017, which focused on bridging gaps in translational research and product development. The new scheme emphasizes commercial manufacturing and market readiness, expanding India's reputation as the
Advertisement
In-Article Ad
This initiative could significantly boost India's biopharmaceutical manufacturing capabilities, creating jobs and enhancing the availability of advanced medical treatments.
Advertisement
In-Article Ad
Reader Poll
Do you think the Biopharma Shakti Hub will enhance India's position in the global pharmaceutical market?
Connecting to poll...
Read the original article
Visit the source for the complete story.