|
Indian life sciences sector is demanding dedicated funds for cybersecurity, policy continuity around PLI-led manufacturing, API self-reliance, and export competitiveness in Union Budget 2026.
Bhavin Mehta, whole time director, Kilitch Drugs and vice chairperson, Pharmexcil, noted that the need of the hour is policy continuity around PLI-led manufacturing, API self-reliance, and export competitiveness. While PLI and PRIP have laid a strong foundation, the next phase must focus on scale, execution, and global cost competitiveness in this Union Budget 2026.
Rationalisation of import tariffs on critical raw materials, coupled with targeted incentives for value-added formulations and APIs, will be crucial to offset rising input and compliance costs. We also see a strong case for enhanced tax incentives for R&D, faster depreciation benefits for quality and compliance investments, and easier access to export credit for pharma manufacturers, he added.
A budget that strengthens PLI outcomes, supports green and compliant manufacturing, and aligns trade policy with India’s healthcare diplomacy will help the sector move decisively towards its $120–130 billion ambition by 2030 and reinforce India’s position as the Pharmacy of the World, said Mehta.
Sanjaya Mariwala, executive chairman and managing director, OmniActive Health Technologies said that the nutraceutical industry has also been included in the PLI scheme to give a push to local manufacture. However, to give this scheme a fillip and real impact on the industry, the Budget must support this industry by providing a proper regulatory framework and clinical validation related to preventive healthcare initiatives.
Dr. Jothi Neeraja, founder & managing director, People Tree Hospitals and Maarga Mind Care said, for Union Budget 2026, we hope to see sustained investment in mental health services, in community programmes, early intervention, workforce training, and stronger healthcare infrastructure across urban and rural India. Continued emphasis on digital and tele-health services, integrated care pathways, and equitable access for all will play a crucial role in translating policy intent into real impact for individuals and families living with mental health conditions.
Dr GSK Velu, chairman and managing director, Trivitron Healthcare, Maxivision Eye Hospitals, and Neuberg Diagnostics, said that although the radical GST reform in 2025 reduced taxes on diagnostic kits and medical devices to a mere 5% charge, it is now imperative for the coming budget to correct the inverted duty structure, which has been pressurizing domestic manufacturers. There is scope to review certain GST rates, like Radiation Protection Apparels being charged at 18% which can be reduced to under 5% GST rate for consistency.
We must now ensure self-sufficiency and reduce import dependency of 80% on devices by adopting 'Buy India' initiatives or boosts in research incentives like the PRIP scheme, to migrate from volume in manufacturing to depth in R&D, Dr Velu noted.
Surjeet Thakur, founder & CEO, TrioTree Technologies, As hospitals increasingly deploy HIS-EHR platforms, AI-driven diagnostics, and connected care solutions, cybersecurity and data protection must become a core pillar of healthcare policy. We are already seeing hospitals raise cybersecurity spending from nearly 8–10% of IT budgets today to an estimated 12–15% by 2027, reflecting the growing threat landscape and regulatory expectations.
Dr. Anand K., managing director & CEO, Agilus Diagnostics, said that only a forward-looking budget can position diagnostics as a strategic pillar of preventive, affordable, and outcome-driven care in India.” More balanced tax structures supported by consistent R&D incentives can ease import dependence and make diagnostics more affordable. This must be done while maintaining quality and trust in the system.
|