Union Commerce and Industry Minister Piyush Goyal has called on India’s pharmaceutical industry to move beyond its strong foundation in generics and place greater emphasis on research, development and innovation.
Speaking at the Bharat Health Global Expo 2026 in New Delhi, Goyal said India, known as the “pharmacy of the world”, has an opportunity to build a larger global healthcare role through innovation, resilient supply chains and international collaboration.
Goyal said India’s success in the generics segment was built through sustained efforts by the pharmaceutical industry. However, he stressed that the country cannot remain focused only on generics if it aims to become a developed nation by 2047.
He called for greater investment in R&D, development and patenting of indigenous products, and stronger use of government programmes supporting research and innovation.
The Minister said the pharmaceutical sector should be at the forefront of India’s R&D ambitions and leverage initiatives such as the Research and Development Innovation Fund (RDIF).
The Minister also highlighted the importance of building resilient and diversified pharmaceutical supply chains.
According to Goyal, resilience does not mean India should become inward-looking or attempt to manufacture everything domestically. Imports will continue to be necessary where appropriate, but supply sources should be diversified across geographies and companies.
He said this approach can reduce excessive dependence on a limited number of countries or companies and help protect continuity in the pharmaceutical industry.
Goyal urged Indian pharmaceutical companies to adopt a more global and outward-looking approach.
He pointed to opportunities for Indian companies to invest in countries where local manufacturing, value addition and last-mile delivery can strengthen healthcare access and create employment.
He specifically highlighted opportunities in African countries as part of India’s broader global healthcare engagement.
Goyal also called for India to pursue medical value travel on a mission mode.
He highlighted the capabilities of Indian hospitals, doctors, technicians and nurses and said India has an opportunity to capture a larger share of the global medical travel market.
The Minister said government initiatives and organisations such as the India Brand Equity Fund and EPM could support efforts to promote India’s healthcare capabilities internationally.
The government is also developing infrastructure to support the pharmaceutical sector.
Goyal highlighted bulk drug parks being developed in Andhra Pradesh, Gujarat and Himachal Pradesh. He also said 100 new industrial parks are coming up, with dedicated areas for pharmaceutical and healthcare activities where required.
Such infrastructure could provide additional opportunities for pharmaceutical manufacturing and related industries.
Goyal said India still has significant scope to strengthen its medical devices industry.
He called for a shift from assembling imported products towards domestic production of components and complete medical-device ecosystems.
The Minister suggested that MSMEs could play an important role in manufacturing components and equipment, while larger companies could contribute the scale needed to expand the sector.
On Ayush, Goyal highlighted India’s traditional medicine and knowledge systems but noted that the country continues to export raw herbs.
He called for greater scientific validation of Ayush products to support their wider acceptance in international markets.
According to Goyal, the government is already working in this direction.
Goyal said the Bharat Health Expo could develop into a major international healthcare platform by bringing different segments of the industry together.
Rather than having separate conferences for individual healthcare segments, he supported a unified platform where stakeholders can exchange ideas, compare developments and identify opportunities.
He said such an initiative could attract participants from around 50 countries and approximately 1,000 people from around the world.
