India Targets 5 to 6 Percent Global Chemical Share by 2030, Eyes $1 Trillion Turnover by 2040
Government Bets on Bio-Pharma SHAKTI and Chemical Parks to Boost Sector Growth
New Delhi, March 4: India is positioning itself for a major leap in the global chemical and biopharmaceutical landscape, with the government projecting the country’s share in the global chemical sector to rise to 5 to 6 percent by 2030. The sector is also expected to achieve a turnover of $1 trillion by 2040.Union Minister JP Nadda said that the budgetary allocation of Rs 13,000 crore for Bio-Pharma SHAKTI and the development of three dedicated chemical parks reflects a strategic push to strengthen India’s long-term industrial capabilities.
Biologics to Account for 40 Percent of Global Medicines by 2035
Addressing a post-Budget webinar, the minister highlighted a structural shift in the pharmaceutical industry, noting that 40 percent of medicines worldwide will be biologics by 2035.With nearly $300 billion worth of patents set to expire by 2030, he said this presents a significant opportunity for India to expand its footprint in biologics and biosimilars. To capitalize on this window, the government has committed Rs 10,000 crore over the next five years under the BioPharma Mission.
He stated that even a 1 percent share in the global biosimilars market could translate into an annual opportunity of Rs 2 lakh crore for India.
Strengthening Research, Regulation and Talent Ecosystem
The minister stressed the need to reinforce institutions such as NIPER by aligning them more closely with talent and skill development initiatives.Plans are underway to develop 1,000 clinical trial sites across the country to enhance research capacity and drive innovation. Emphasizing faster regulatory approvals, he said the Central Drugs Standard Control Organization will be strengthened to support biosimilars and drug fermentation processes.
Infrastructure Push to Close Global Share Gap
India’s chemical sector currently generates output worth Rs 19.4 lakh crore and maintains strength in segments such as dyes and agrochemicals. However, its global market share stands at 3 percent.Identifying infrastructure as the key constraint, the government has allocated Rs 3,300 crore to establish three world-class chemical parks equipped with plug-and-play utilities, advanced effluent treatment systems, integrated logistics, and built-in safety mechanisms.
These dedicated chemical parks are expected to deliver 20 to 40 percent cost reductions through industrial symbiosis while promoting a circular economy by design.
With focused investments in biologics, biosimilars, infrastructure, and regulatory reform, India is aiming to significantly expand its role in the global chemical and pharmaceutical value chain over the next two decades.
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