• Jan Vishwas Bill signals a new era of ease of doing business for global pharma investors
• Government commits $10 bn innovation fund; patent filings up nearly 100% in recent years
• IPHEX 2026 draws 1,000+ exhibitors and delegates from 50+ countries

India’s pharmaceutical sector is poised to double its current valuation of $60 billion within five years, Union Minister for Commerce & Industry, Shri Piyush Goyal, said today at the curtain raiser ceremony of IPHEX 2026 (International Exhibition of Pharma and Healthcare) by Pharmexcil (Pharmaceuticals Export Promotion Council of India). Addressing global pharmaceutical leaders, diplomats, and industry delegates from over 50 countries, the Minister reaffirmed India’s position as the world’s most trusted pharmaceutical hub and extended an open invitation to global companies to partner with India as investors, innovators, and manufacturers.

India already supplies 65–70% of WHO vaccine requirements, hosts the highest number of US FDA-approved manufacturing plants of any country globally, and counts ten of the world’s top 25 generic companies among its domestic operators. Goyal pointed to a near-100% rise in patent filings in recent years, a dedicated Bio Pharma Shakti programme, and a $10 billion government backed innovation fund as evidence of the country’s accelerating shift from generics into high value pharmaceutical innovation.

With Free Trade Agreements spanning 50-plus countries and GDP growth of 7.7% for FY2026, India, he said, offers unmatched scale, talent, and cost advantage to global partners. “We are looking for partnerships that will last generations,” Goyal said, invoking India’s G20 theme: Vasudhaiva Kutumbakam  The World is One Family.

Recalling India’s handling of pharmaceutical supplies during the COVID-19 pandemic, Goyal said that the temporary restrictions on the export of medicines and vaccines were introduced to ensure their fair availability at affordable prices, and not to deny access to other countries. He noted that the Government was concerned that traders and financially strong entities could stockpile supplies and sell them at inflated prices during the crisis.

Highlighting India’s commitment to global healthcare, he said the country took steps to prevent profiteering and supported nations in need by supplying medicines free of cost to more than 100 countries. He added that every country that approached India for pharmaceutical assistance received medicines at pre-COVID prices.

Speaking at the event, Union Minister of State for Commerce and Industry, Shri Jitin Prasada, reinforced India’s credentials as a stable, reform-driven destination for global pharmaceutical investment. “India offers an exceptionally stable democratic environment that enables bold, long-term decisions. Our focus on ease of doing business is absolute  and there will be no compromise on quality, safety, and regulatory compliance. I urge global stakeholders to view India not just as a consumer market, but as a trusted manufacturing and co creation partner,” he said. He highlighted the recently passed Jan Vishwas Bill as a landmark move toward eliminating outdated compliance burdens and building a more transparent, agile business ecosystem.

Further Shri Rajesh Agarwal, Shri Rajesh Agrawal, IAS, Commerce Secretary, Ministry of Commerce and Industry  commented  “situated India’s ambition within a larger global context. Describing India as the ‘Pharmacy of the World’, producing over 60% of global generic medicines across 60 therapeutic areas and exporting to more than 200 countries, he called on the industry to move from reacting to global regulatory shifts to actively leading them. He outlined the government’s intent to leverage PLI schemes to pioneer emerging fields such as biopharma and expressed the vision of growing IPHEX into one of the world’s largest comprehensive healthcare ecosystems.”

Mr. Namit Joshi, Chairman, Pharmexcil, said, “Indian pharmaceutical companies are expanding well beyond traditional markets, building a strong presence across emerging geographies while reinforcing their foothold in regulated markets. With over 3,000 companies, more than 10,500 manufacturing units and a presence in over 150 countries, the industry is ready to be a long-term partner in global health. The Global Ambassadors Meet aligns diplomatic goodwill with industry capability and sets the stage for iPHEX 2026 and the GDRC 2026.”