Government committed to building globally competitive, innovation-driven pharma sector: Piyush Goyal
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 (), 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.
