As India gears up for the presentation of the Union Budget 2025, stakeholders in the healthcare and pharmaceutical sectors are urging the government to introduce targeted reforms. The focus is on ensuring that Union Budget 2025 healthcare initiatives align with national priorities and support the country’s ambition to become a $130 billion pharma market by 2030. Experts emphasise the need for strategic measures to enhance Budget 2025 pharma expectations, build resilience, and boost global competitiveness.
Incentivising innovation and manufacturing in pharma
Previous budget cycles have introduced promising policies such as Production Linked Incentive (PLI) schemes and prioritised research and development (R&D) efforts. However, experts argue that Union Budget 2025 healthcare strategies must go a step further. This includes incentivising research, refining taxation frameworks, and simplifying regulatory structures to fuel sectoral growth.
Garima Malhotra, Associate Partner, Healthcare and Lifesciences at Praxis Global Alliance, highlighted that Budget 2025 pharma expectations must include stronger support for research and development. She advocated for increased government investment in drug development parks, research institutes, and stronger academia-industry partnerships.
In this context, the need for expanding the PLI scheme for pharma and enhancing healthcare innovation budget India allocations has become even more critical. Malhotra suggested that tax deductions of up to 1.25x on expenditures for training and skill development could accelerate growth across the ecosystem.
Financing solutions and structural reforms urged
Experts also seek long-term financing measures that include extended loan repayment periods, tax incentives, public-private partnerships, and the creation of dedicated innovation zones. These steps are essential to fulfil the broader Union Budget 2025 healthcare goals.
Munira Loliwala, Vice President – Strategy and Growth at TeamLease Digital, noted that reforms must support the healthcare system’s inclusivity and resilience. She stressed that Budget 2025 pharma expectations should prioritise import duty exemptions for life-saving drugs and oncology treatments, helping reduce costs and improve access.
Moreover, aligning the PLI scheme for pharma with streamlined regulatory policies is expected to catalyse sectoral expansion. Investments in rural healthcare and a unified GST framework, as part of a forward-looking healthcare innovation budget India, would directly support affordability and systemic improvement.
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Poonam Muttreja, Executive Director of Population Foundation of India, echoed the importance of aligning fiscal policies with India’s evolving demographic landscape. She called on the government to support youth development, gender equality, and healthy ageing as integral elements of Union Budget 2025 healthcare planning.
Conclusion
The industry’s unified call is for Budget 2025 pharma expectations to focus on research, reforms, and better funding. Strengthening the PLI scheme for pharma and improving the healthcare innovation budget India will support long-term growth and better healthcare access.
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