Govt committed to building globally competitive, innovation-driven pharma sector: Piyush Goyal
New Delhi, July 28
Union Minister of Commerce and Industry Piyush Goyal has said that the Centre remains committed to fostering a globally competitive and innovation-driven pharmaceutical sector while ensuring affordable healthcare.
In a post on social media platform X, the minister said he held a productive interaction with a delegation of the Indian Pharmaceutical Alliance (IPA), led by its President, Dr Sharvil Patel.
During the meeting, Goyal and the industry representatives discussed opportunities to further strengthen India's pharmaceutical innovation ecosystem by attracting greater investments in research and development (R&D), clinical research and advanced therapeutics.
The discussions also focused on enhancing collaboration between the government and the pharmaceutical industry to accelerate innovation and improve the sector's global competitiveness.
Goyal reiterated the Modi government's commitment to creating an enabling environment for the pharmaceutical industry, with a focus on promoting innovation while ensuring access to affordable healthcare.
However, the Indian pharmaceutical industry is one of the largest in the world and plays a key role in supplying affordable generic medicines to global markets.
The government has been taking several initiatives to promote domestic manufacturing, research and innovation in the sector.
Additionally, in the second quarter of 2026, the domestic market of pharma and healthcare sector recorded 65 deals worth $13.9 billion, according to a report.
Excluding an $11.8 billion deal, which was the largest overseas purchase by an Indian pharmaceutical company, overall deal values still rose 12 per cent over the previous quarter.
Mergers and acquisitions strengthened, with 35 deals worth $13.2 billion as transaction volumes increased 17 per cent quarter on quarter and values reached an all‑time high.
In addition, outbound transactions accounted for 96 per cent of total M&A value.
— IANS
Reader Comments
While global competitiveness is fine, I hope affordable healthcare doesn't become just a slogan. Our common man still pays high prices for essential medicines. Need more transparency on pricing. But yes, innovation push is welcome.
Interesting news. India's pharma sector is indeed a powerhouse. The focus on R&D and clinical research could position India as a leader in advanced therapeutics. The 96% outbound M&A share shows Indian companies are going global.
IPA meeting is good but ground-level issues like quality control and regulatory hurdles need attention. Many small pharma units struggle with compliance. Hope this "innovation-driven" push doesn't ignore the basics. Abhi bhi bahut kuch karna hai.
As someone working in pharma regulation, this is a promising direction. The $11.8 billion outbound deal is huge! But we must ensure that innovation reaches patients at subsidized rates under schemes like Ayushman Bharat. Balance is key.
Pharma sector has been a shining star of Indian manufacturing. But I worry that focusing too much on R&D for global markets might increase costs domestically. The government must ensure that local patients also benefit from these innovations. Sabka saath, sabka vikas!
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