New Delhi: In a landmark Union Budget 2026–27 presentation, Finance Minister Nirmala Sitharaman unveiled a series of strategic initiatives aimed at bolstering India’s healthcare, life sciences, and high-tech mineral sectors. Central among them is “Biopharma Shakti”, a dedicated programme with a proposed outlay of ₹10,000 crore over five years, designed to position India as a global biopharmaceutical hub.
The Biopharma Shakti initiative seeks to create an integrated innovation and manufacturing ecosystem focused on biologic medicines, which are critical for managing chronic and non-communicable diseases such as diabetes, cancer, and autoimmune disorders. Highlighting the growing burden of such illnesses in India, the finance minister underscored that biologics play a vital role in extending life expectancy and improving quality of care, making this initiative a cornerstone of the government’s long-term healthcare and life sciences growth agenda.
“Biopharma Shakti will drive cutting-edge research, domestic manufacturing, and access to life-saving biologic medicines, reinforcing India’s position on the global biotech map,” Sitharaman said in her Budget speech.
Addressing India’s strategic minerals sector, Sitharaman announced the establishment of dedicated rare earth corridors in Tamil Nadu, Kerala, Odisha, and Andhra Pradesh. The corridors aim to enhance mining, processing, research, and manufacturing of rare earth elements, which are indispensable for consumer electronics, electric vehicles, defense applications, and advanced technologies.
Rare earths, a group of 17 chemical elements, are largely dominated by China, which accounts for nearly 60% of global mining and 90% of refined output, including critical permanent magnets. The corridors are expected to reduce India’s reliance on imports, secure supply chains, and support the country’s ambitions in advanced technology manufacturing.
“The rare earth corridor programme builds on the permanent magnets scheme launched in November 2025. By supporting mineral-rich states such as Odisha, Kerala, Andhra Pradesh, and Tamil Nadu, we aim to create a robust domestic ecosystem for these strategic minerals,” the finance minister noted.
The announcement comes at a time of rising global competition and supply uncertainties in the rare earth sector. Apart from enhancing strategic autonomy, the move is expected to generate employment and industrial growth in the mineral-rich states, including Tamil Nadu and Kerala, which are also headed for state assembly elections later this year.
Together, Biopharma Shakti and the rare earth corridors signal the government’s dual focus on healthcare innovation and high-tech industrial self-reliance, strengthening India’s capacity to respond to emerging domestic needs and global technological challenges.