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Dr Reddy's Chairman Satish Reddy on Union Budget
This story was originally published at 14:29 IST on 1 February 2026
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HYDERABD - K. Satish Reddy, chairman of Dr. Reddy's Laboratories Ltd., said the following on the Union Budget for 2024-25 (Apr-Mar), presented in Lok Sabha by Finance Minister Nirmala Sitharaman today:
In the Union Budget 2026, the pharmaceutical sector was the first to be highlighted in the Finance Minister's presentation, signalling its strategic importance. The emphasis on biologics and biosimilars is particularly timely, as India is at the cusp of taking a global lead in this space.
The 10,000-crore (INR 100 billion) Biopharma Shakti programme will be a key enabler for India's journey from volume to value leadership, helping the country move from being a global supplier of quality medicines to becoming a global innovator. Alongside the expansion of the national clinical trials network and strengthening of the CDSCO (Central Drugs Standard Control Organisation) with specialised scientific review and globally aligned timelines, these initiatives will enhance India's capacity to develop complex, high-value therapies.
The addition of new NIPERs (National Institute of Pharmaceutical Education and Research) and the upgrading of existing ones will expand opportunities for advanced scientific education and skills development, building the talent pipeline essential for innovation-led growth. Recognising the rising burden of non-communicable diseases, particularly cancer, the Budget also provides direct relief for patients by exempting basic customs duty on 17 cancer drugs and medicines, and extending import duty exemptions to seven additional rare diseases.
Combined with regulatory simplification through central–state coordination, these measures are set to strengthen India's biopharma ecosystem while ensuring patients in India and across the world. End
Compiled by Narayana Krishna
Filed by Tanima Banerjee
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