Leaders of the healthcare and pharmaceutical industries have stated that the Union Budget 2025-26 meets the healthcare sector’s expectations, and all the industry captains have welcomed it. Arjun Deshpande, founder and CEO of ‘Generic Aadhaar’, the pharmaceutical company that sells generic medicines throughout the country, has responded that this union budget presented by Nirmala Sitaraman will help India become a leader in global health innovation. He said the union budget is a strong and progressive step towards empowering India's startup ecosystem. It is evident that the budget shows the government's commitment to fostering innovation and entrepreneurship and creating new opportunities for young businesses. Further, the budget lays the foundation for a more robust and dynamic startup environment, encouraging growth and long-term sustainability. With the right execution, these initiatives will drive innovation, improve funding access, and inspire the next generation of entrepreneurs. It is a promising move that reinforces India’s position as a global healthcare leader. Dr Sindoori Reddy, director-strategy, at Apollo Hospitals in Hyderabad, has commented that the Union Budget 2025-26 sets a meaningful trajectory for India’s healthcare sector, by reducing tax rates, and putting money in the hands of individuals, which they can use to secure meaningful health insurance. In addition, by prioritising medical education, reinforcing AI-driven advancements, expanding access and reducing cost of cancer care, the government has brought back health as a vital theme. She further said, by strengthening the ‘Heal in India’ and ‘Heal by India’ initiatives, the government is fostering an ecosystem where the Indian healthcare sector can meet global demand while ensuring quality care at home. With these strategic initiatives, India is not just preparing for the healthcare challenges of today but laying the foundation for a resilient, future-ready health economy. Dr S V Veeramani, immediate past president of the Pharmaceuticals Export Promotion Council (Pharmexcil) said the allocation for the MSME sector will help increase the efficiency of the pharma MSMEs. He hailed the government for the exemption of 36 life-saving cancer drugs from customs duty as the move will reduce the financial strain on patients. He said this year’s Union Budget has a lot of supporting schemes for the pharmaceutical industry, especially for the small, micro and medium level manufacturing companies. Dr Veeramani has welcomed the Union Budget. The chairman of the Tamil Nadu Pharma Manufacturers Association (TN IDMA) J Jayaseelan said removing custom duties for import of certain life-saving drugs will actually help the nation. He suggested that if the government is ready to remove the GST for life-saving drugs manufactured in India, it will be a further boost to the healthcare system, but it has to be done at the API level itself. Renjan Kumar Deka, general secretary of the Assam Small Scale Pharmaceutical Manufacturers Association (ASSPMA), has commented that the Union Budget presented by the finance minister is a great budget as the expectations of the middle class are fulfilled. Dr Rajesh Gupta, president of the Himachal Drug Manufacturers Associations (HDMA) said the union budget has made several positive steps for the pharmaceutical and healthcare sectors, focusing on affordability, accessibility and infrastructure development. Dr Darshan Kataria, president of the Madhya Pradesh Small-scale Drug Manufacturers Association (MP SDMA) has viewed the union budget as a supporting measure for the pharma industry in the country. He said the increased allocation for the healthcare sector will have a positive impact for the pharma industry. Upward revision of investment and turnover limits for MSMEs will help the units upgrade their facilities.
|