Indian pharma sector pushes for tax breaks in upcoming budget

Indian pharmaceutical companies are demanding tax breaks and financial support for drug innovation research from Prime Minister Narendra Modi’s government, as the industry seeks funds to boost research and development of innovative drugs.

The call comes as the Modi government prepares to present the federal fiscal budget in July. The budget is expected to set out important policy directions for the newly elected administration.

The provision of tax incentives and financial assistance would significantly strengthen the pharmaceutical sector and potentially lead to advances in drug innovation and research development in India.

(Disclaimer: Based on information obtained from the agency.)