Union Commerce and Industry Minister Piyush Goyal today said that India’s pharmaceutical industry, is expected to double in size over the next five years, driven by innovation, global partnerships, and expanding international market access. Mr Goyal made these remarks while addressing the Global Ambassador Meet on Pharmaceutical Sector and Curtain Raiser Ceremony of International Exhibition of Pharma and Healthcare 2026 in New Delhi.
Mr Goyal said that India is moving beyond its traditional strength in generic medicines and is increasingly focusing on research, innovation, and high-value pharmaceutical products. He highlighted that India has become a trusted global healthcare partner, with the highest number of US FDA-approved pharmaceutical manufacturing facilities outside the United States and a significant share in global vaccine production.
He noted that India is providing affordable healthcare solutions while preventing profiteering and ensuring equitable distribution of essential medical products. Mr Goyal has expressed hope that India’s pharmaceutical sector will play an increasingly important role in shaping the future of global healthcare and delivering affordable medicines to millions worldwide.
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