Home / Business and Economy / Pharma & MedTech Seek Budget Boost for Innovation
Pharma & MedTech Seek Budget Boost for Innovation
22 Jan
Summary
- Industry leaders want a structured funding framework for pharma and MedTech.
- Companies aim for value-driven growth and complex therapy development.
- Calls for tax rationalisation and public investment in R&D infrastructure.
Ahead of the Union Budget 2026, leaders from India's pharmaceutical and MedTech industries are advocating for a structured funding framework to accelerate innovation and research and development. This initiative is seen as crucial for advancing complex therapies and achieving the national vision of Viksit Bharat.
Industry stakeholders highlight a strategic shift towards value-driven growth. They call for closer alignment between science, policy, and industry to foster innovation across the entire value chain, enabling the translation of advanced research into high-value treatments.
Specific proposals include a Rs 1,000-crore MedTech R&D and clinical-validation fund. Concerns were also raised about inverted duty structures impacting MedTech manufacturers, urging for customs duty rationalisation and a simplified governance framework to boost cost competitiveness.
Furthermore, there's a push for incentives supporting AI-led innovation, job creation, and the development of a prevention-first healthcare system. Suggestions also include tax deductions for child health check-ups to promote early intervention and build a healthier future generation.
