Commerce and Industry Minister Piyush Goyal on Tuesday held a meeting with Janet Truncale, Global Chair and CEO of EY. They exchanged views on India's consistently growing role in global supply chains and opportunities regarding Global Capability Centres (GCCs).
“Also discussed investment avenues, given India's strong economic growth momentum and emergence as a preferred global investment destination,” Goyal posted on X. Truncale earlier met Finance Minister Nirmala Sitharaman in the national capital.
Earlier, Goyal said that India’s pharmaceutical sector reflects the country’s commitment to ensuring wider access to quality and affordable healthcare across the world. Addressing the Global Ambassador Meet on the Pharmaceutical Sector in New Delhi, Goyal said trust, innovation and partnership form the foundation of India’s pharmaceutical strength.
He 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.
The minister stated 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. 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. Highlighting India’s role as a trusted global pharmaceutical partner, the minister said the sector has demonstrated its ability to combine quality, reliability and affordability.
Referring to the COVID-19 pandemic, he recalled that India not only met domestic requirements but also supplied medicines and vaccines to numerous countries, particularly in the Global South and other emerging economies.