India Pharma Outlook Team | Tuesday, 19 August 2025
On August 18, 2025, Union Commerce and Industry Minister Piyush Goyal met with leaders from the pharmaceutical industry in New Delhi to discuss how to develop India's pharmaceuticals industry by boosting research and development and better competing on the global stage.
Goyal reiterated how research and development creates new products, new therapies, and will allow India to lead globally in pharmaceuticals. He also mentioned India's strengths of low manufacturing costs and a well-educated workforce, which is how the country's pharmaceuticals can compete with countries like China.
The minister argued that the government would support the industry through policies that rationalize the need for innovation, affordable healthcare and sustainability.
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He highlighted programs like the Production-Linked Incentive scheme and the Scheme for Strengthening Pharmaceutical Industry, which are focused on high-value production and strengthening exports.
Industry leaders from major pharmaceuticals including Sun Pharma, Cipla, and Dr. Reddy's and members of the Indian Pharmaceutical Alliance raised issues that affect their operations, including high R&D costs, patent validity periods and enhancing contract manufacturing. Goyal said that India's pharmaceuticals had exported $27.8 billion in FY24 and have set targets of $31 billion for FY25, driven by demand from countries like the US, UK and Africa.
He encouraged the industry to align with India's vision of becoming a developed nation by 2047, focusing on sustainability and leadership in generics and biologics. The discussions underscored a collaborative approach to strengthen India's position in the global pharmaceutical market, leveraging both government support and industry innovation to achieve ambitious economic and healthcare goals.
