New Delhi: Union Commerce and Industry Minister Piyush Goyal has highlighted India’s growing prominence in the global pharmaceutical industry, stating that some of the world’s largest generic drug manufacturers operate from the country. He also noted that India hosts the highest number of US FDA-approved pharmaceutical manufacturing facilities outside the United States.
Addressing an international gathering, the Minister said India’s patent filings have nearly doubled in recent years, reflecting the country’s increasing focus on innovation. He highlighted the launch of the Biopharma Shakti programme to encourage research and development in the pharmaceutical sector and referred to the Government’s $10 billion innovation support initiative aimed at fostering technological advancement across industries, including pharmaceuticals.
Inviting global pharmaceutical companies to strengthen their footprint in India Goyal pointed to the opportunities offered by a population of 1.4 billion, a rapidly growing middle class, rising incomes, and sustained economic growth.
Emphasizing India’s long-standing healthcare philosophy, he cited the Sanskrit phrase “Sarve Santu Niramaya”—meaning “May all beings be free from illness”—and said that healthcare has traditionally been viewed in India as a shared responsibility of society.
The Minister said the COVID-19 pandemic reinforced the importance of international cooperation in ensuring equitable access to healthcare. He noted that India’s pharmaceutical industry played a crucial role during the crisis by meeting domestic demand while also supplying medicines and healthcare products to countries across the world, particularly in the Global South and developing economies.
Recalling India’s response during the pandemic, Goyal explained that temporary restrictions on the export of medicines and vaccines were introduced to ensure fair and affordable access to essential supplies. He stressed that the objective was to prevent hoarding and profiteering during a global health emergency.
According to the Minister, India supplied medicines free of cost to more than 100 countries during the pandemic and ensured that countries seeking assistance received pharmaceutical products at pre-pandemic prices. He emphasized that India took steps to prevent intermediaries from exploiting the crisis for financial gain.
Reaffirming India’s commitment to long-term international cooperation Goyal said the country seeks enduring partnerships that extend beyond emergencies and contribute to innovation, sustainable healthcare production, and universal access to quality healthcare.
Referring to the theme of India’s G20 Presidency, “Vasudhaiva Kutumbakam – One Earth, One Family, One Future,” he said India views the world as one family and remains committed to working with the international community to ensure that quality healthcare reaches every individual.
The Minister thanked ambassadors, diplomats, and international delegates for participating in the event and extended his best wishes for the successful organization of GDRC 2026 and IPHEX 2026.
