Union Budget 2026 Expectations | Pharma industry representative seeks higher healthcare spending, R&D push

With Union Budget 2026 just days away, the pharmaceutical industry is seeking stronger policy and fiscal support to accelerate innovation and strengthen India’s position as a global manufacturing hub.

Nitin Jain, Founder and Managing Director of Iberia Pharmaceuticals, said the upcoming budget should focus on increasing healthcare spending, noting that India continues to lag many developing countries in this area. He stressed the need for sustained investment in building global-standard manufacturing capabilities and enhanced incentives for research and development.

Jain called for higher funding and targeted measures for centres of excellence to drive research and innovation, helping the sector transition from a volume-driven model to an innovation-led growth approach. He also urged the government to streamline regulations, promote domestic manufacturing and ensure quality and safety standards remain robust.

Highlighting the sector’s growing contribution to economic growth, Jain said Budget 2026–27 should prioritise ease of doing business by simplifying compliances, supporting capacity building and upskilling the workforce, and balancing long-term reforms with immediate industry needs to boost investment in pharmaceuticals and healthcare.