Commerce and Industry Minister Piyush Goyal said on Tuesday that India is well-positioned to serve the world as an innovator, manufacturer, reliable supplier of affordable medicines, partner in advanced healthcare technologies, and destination for contract manufacturing.
Addressing the Global Ambassador Meet on the Pharmaceutical Sector here, the minister noted that Indian medicines are widely accepted across global markets owing to the industry’s established quality standards and manufacturing capabilities. He also highlighted the sector’s growing focus on research, innovation, advanced technologies and higher-value products, and invited global companies to invest, manufacture and collaborate in India.
Goyal noted that India’s pharmaceutical exports have increased from about $14 billion in FY 2014-15 to about $31 billion in FY 2025-26, with medicines reaching patients in more than 200 countries. He added that while India continues to maintain its leadership in generic medicines, the sector is increasingly moving towards innovation-driven growth.
Describing iPHEX 2026 as an important platform for showcasing India’s pharmaceutical and healthcare capabilities to the global market, he urged Ambassadors, High Commissioners and representatives of foreign missions to encourage participation from their respective countries.
India’s pharmaceutical sector reflects the country’s commitment to ensuring wider access to quality and affordable healthcare across the world, he added. Commerce Secretary Rajesh Agrawal outlined India’s goal of achieving $50 billion in pharmaceutical exports by 2030 through quality, innovation, regulatory excellence and market diversification.
He noted that India has more than 10,500 manufacturing units and over 60,000 generic brands across 60 therapeutic categories. Agrawal further highlighted that over 60 per cent of India’s pharmaceutical exports are destined for highly regulated markets, reflecting growing international confidence in India’s pharmaceutical manufacturing capabilities and quality standards.
iPHEX 2026 will be held at Bharat Mandapam here from September 7 to 9. The event is expected to feature more than 700 exhibitors, over 600 overseas business delegates and around 25,000 domestic visitors. The Curtain Raiser for the Global Drug Regulatory Conclave 2026, scheduled for July 30–31, and iPHEX 2026 were launched on the occasion.
A promotional video showcasing both events was also released. The Global Drug Regulatory Conclave 2026 is expected to bring together regulators, policymakers and industry leaders from across the world to deliberate on regulatory convergence, mutual reliance mechanisms and emerging challenges in pharmaceutical regulation.
The Global Ambassador Meet witnessed participation from Ambassadors, High Commissioners and diplomats from 98 countries, along with representatives from the pharmaceutical industry, regulators, healthcare stakeholders and senior Government officials.