Ministry of Commerce & Industry
India’s Pharmaceutical Sector Reflects Commitment to Affordable Healthcare and Global Well-Being: Union Minister of Commerce and Industry Shri Piyush Goyal
India Well Positioned to Serve the World as Innovator, Manufacturer and Trusted Pharmaceutical Partner: Shri Piyush Goyal
Minister of State for Commerce and Industry Shri Jitin Prasada Calls for Greater Global Collaboration in Pharmaceuticals and Healthcare
India Targets USD 50 Billion Pharmaceutical Exports by 2030 Through Quality, Innovation and Market Diversification: Commerce Secretary Rajesh Agrawal
Posted On: 09 JUN 2026 8:39PM by PIB Delhi
Union Minister of Commerce and Industry Shri Piyush Goyal said that India’s pharmaceutical sector reflects the country’s commitment to ensuring wider access to quality and affordable healthcare across the world.
Addressing the Global Ambassador Meet on the Pharmaceutical Sector in New Delhi, Shri Goyal noted that India’s civilisational ethos of Vasudhaiva Kutumbakam and the vision of Prime Minister Shri Narendra Modi of “One Earth, One Health” continue to guide the country’s approach to healthcare and pharmaceuticals.
Highlighting India’s role as a trusted global pharmaceutical partner, the Minister said the sector has demonstrated its ability to combine quality, reliability and affordability. Referring to the COVID-19 pandemic, he recalled that India not only met domestic requirements but also supplied medicines and vaccines to numerous countries, particularly in the Global South and other emerging economies.
Shri Goyal said trust, innovation and partnership form the foundation of India’s pharmaceutical strength. He noted that Indian medicines are widely accepted across global markets owing to the industry’s established quality standards and manufacturing capabilities. He also highlighted the sector’s growing focus on research, innovation, advanced technologies and higher-value products, and invited global companies to invest, manufacture and collaborate in India.
The Minister stated that India is well positioned to serve the world as an innovator, manufacturer, reliable supplier of affordable medicines, partner in advanced healthcare technologies and destination for contract manufacturing.
Shri Goyal noted that India’s pharmaceutical exports have increased from about USD 14 billion in FY 2014-15 to about USD 31 billion in FY 2025-26, with medicines reaching patients in more than 200 countries. He added that while India continues to maintain its leadership in generic medicines, the sector is increasingly moving towards innovation-driven growth.
The Minister described iPHEX 2026 as an important platform for showcasing India’s pharmaceutical and healthcare capabilities to the global market. He urged Ambassadors, High Commissioners and representatives of foreign missions to encourage participation from their respective countries.
Minister of State for Commerce and Industry Shri Jitin Prasada emphasised the importance of global collaboration in pharmaceuticals and healthcare for building resilient health systems. He noted that enhanced regulatory cooperation and stronger international partnerships would help improve access to medicines and support public health outcomes globally.
Commerce Secretary Shri Rajesh Agrawal outlined India’s goal of achieving USD 50 billion in pharmaceutical exports by 2030 through quality, innovation, regulatory excellence and market diversification. He noted that India has more than 10,500 manufacturing units and over 60,000 generic brands across 60 therapeutic categories.
Shri Agrawal further highlighted that over 60 per cent of India’s pharmaceutical exports are destined for highly regulated markets, reflecting growing international confidence in India’s pharmaceutical manufacturing capabilities and quality standards.
iPHEX 2026 will be held at Bharat Mandapam, New Delhi, from 7–9 September 2026. The event is expected to feature more than 700 exhibitors, over 600 overseas business delegates and around 25,000 domestic visitors.
The Curtain Raiser for the Global Drug Regulatory Conclave 2026, scheduled for 30–31 July 2026, and iPHEX 2026 was launched on the occasion. A promotional video showcasing both events was also released.
The Global Drug Regulatory Conclave 2026 is expected to bring together regulators, policymakers and industry leaders from across the world to deliberate on regulatory convergence, mutual reliance mechanisms and emerging challenges in pharmaceutical regulation.
The Global Ambassador Meet witnessed participation from Ambassadors, High Commissioners and diplomats from 98 countries, along with representatives from the pharmaceutical industry, regulators, healthcare stakeholders and senior Government officials.
The meeting reaffirmed India’s commitment to strengthening international partnerships, advancing regulatory cooperation and enhancing its position as a trusted global hub for pharmaceutical manufacturing, innovation and healthcare collaboration.
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Abhijith Narayanan/ Garima Singh/ Ishita Biswas
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