Budget 2025 is reassuring, instils confidence: Kiran Mazumdar Shaw

New Delhi: Kiran Mazumdar Shaw, Chairperson and Managing Director, Biocon has called the Union Budget for FY 2025-26 as reassuring and instilling confidence that India is investing in the right areas to drive stable and inclusive economic growth.

“In addressing key sectors such as agriculture, MSMEs, skilling & employment, healthcare, education, innovation, infrastructure, and exports, the Budget lays a strong foundation for sustained economic expansion and development,” Shaw said in her post budget reaction.

Appreciating the focus on providing relief to cancer patients, Biocon’s CMD said, “For healthcare, the exemption of 36 lifesaving drugs from basic customs duty, along with concessional duty on six more, will improve access to imported drugs. While the Customs duty waiver is welcome, I hope this extends to GST relief for indigenously available medicines for cancer, rare diseases, and chronic conditions like autoimmune diseases to truly benefit the patients. Additionally, I commend the setting up of daycare cancer centres at all district hospitals over the next three years aimed to enhance cancer care accessibility.”

Shaw added further: “The Budget makes a strong commitment to research, innovation, and technological advancement. The allocation of Rs 20,000 crore to implement private sector-driven research, development and innovation initiatives will accelerate India’s transition to a knowledge-driven economy. The proposal to explore a dedicated Fund of Funds for DeepTech startups and companies is a welcome step toward strengthening India’s capabilities in critical and emerging technologies.”

“The expansion of the PM Research Fellowship Scheme, offering 10,000 scholarships over the next five years, will empower young researchers to push the frontiers of science and technology. Additionally, the government’s investment in expanding infrastructure at IITs, establishing a Rs 500 crore Centre of Excellence for AI in Education and setting up Atal Tinkering Labs in 50,000 government schools will nurture the nation’s innovation culture. I also commend the thinking on nuclear energy and the investment in innovating mini nuclear plants for energy production,” Biocon Chief added.