Union Budget 2026: Pharma, medtech leaders want more R&D support
Pharma and MedTech industry leaders are urging the government to ramp up funding for research and development (R&D) in the upcoming Union Budget.
They're also asking for lower customs duties to make innovation and manufacturing easier.
This push comes as India's pharma exports just topped $30 billion, with a bold target of $500 billion by 2047.
Why should you care?
Industry voices like Dr. Reddy's Satish Reddy are calling for dedicated funds to turn research into life-changing therapies and smoother rules for startups.
Poly Medicure's Himanshu Baid suggests a ₹1,000 crore fund to boost homegrown MedTech innovation.
Leaders also want stable GST rates, expanded incentives for exporters, and tax breaks on essential medicines—all moves that could mean better jobs, cheaper meds, and stronger supply chains down the line.