Reform-heavy Budget draws Himachal industry nod

Welcoming the strategic announcement of ‘Biopharma Shakti’ with an outlay of Rs 10,000 crore to develop a domestic ecosystem for biologics and biosimilar drugs, the Himachal Drug Manufacturers Association (HDMA) said the move would significantly strengthen the state’s pharmaceutical base. HDMA spokesperson Sanjay Sharma said with the disease burden shifting towards non-communicable ailments such as diabetes, cancer and autoimmune disorders, the initiative would help ensure affordable, high-quality medicines through biopharma manufacturing hubs.

The decision to reduce import duty on 17 cancer and seven diabetes drugs has also been hailed as a major consumer-friendly step aimed at making life-saving medicines affordable.

Sharma further welcomed the renewed thrust to the Ayurveda sector, with the proposal to open three All India Institutes of Ayurveda and strengthen pharmacies and testing laboratories. He said the move would generate employment and provide long-overdue recognition to the traditional medicine sector.

Industry bodies also welcomed the credit guarantee support mechanism for MSMEs on the TReDS platform, decriminalisation of several income tax provisions and the proposed Reforms Committee to ease GST and customs compliance, terming these steps as a major relief for investors.

The Baddi Barotiwala Nalagarh Industries Association (BBNIA) described the Budget as one aimed at long-term industrial rejuvenation. Association president YS Guleria said revamping legacy industrial estates would unlock capital for new ventures, modernise old units and encourage the next generation to continue family-run enterprises.

The focus on MSMEs through enhanced liquidity and increased PSU procurement was expected to boost productivity, while higher infrastructure allocation would reduce logistics costs, create jobs and raise purchasing power, Guleria added.

Industry leaders also welcomed targeted interventions in fast train corridors, chemical industrial corridors, rare earth minerals, textiles and Ayurveda, along with incentives for data centres, terming them crucial steps towards self-reliance.

Sanjay Suri, Vice-Chairman, CII Himachal Pradesh, said the development of ecologically sustainable hiking and mountain trails would promote responsible tourism in Himalayan states while supporting local livelihoods. He added that the Biopharma Shakti allocation would further strengthen the region’s healthcare manufacturing ecosystem, ensuring long-term economic and social sustainability.