Provision of Rs 13000 cr for BioPharma SHAKTI & 3 Dedicated Chemical Parks is a strategic bet on India’s future

• Union Budget 2026-27 carves out ₹13,000 crore combined for two flagship interventions of the Ministry of Chemicals and Fertilizers: the Bio-Pharma SHAKTI scheme (₹10,000 cr) and 3 dedicated Chemical Parks (₹3,000 cr).
• Strategic objective: lift India's share in the global chemical sector to 5–6 % by 2030 and a $1 trillion turnover by 2040, consolidating the "Pharmacy of the World" tag.
• Relevant for GS-III (Economy / Industrial Policy / Science & Tech) — manufacturing competitiveness, import substitution in APIs, biologics/biosimilars, and Viksit Bharat 2047.