Govt committed to building globally competitive pharma sector: Goyal

Union Commerce and Industry Minister Piyush Goyal on Monday reaffirmed the Centre's commitment to building a globally competitive and innovation-driven pharmaceutical sector while ensuring affordable healthcare for all.In a post on X, Goyal said he had a "productive interaction" with a delegation from the Indian Pharmaceutical Alliance (IPA), led by its President, Dr Sharvil Patel.

Held a productive interaction with the delegation of the Indian Pharmaceutical Alliance (IPA), led by its President, Dr. Sharvil Patel.

Discussed opportunities to further strengthen India’s pharma innovation ecosystem by attracting greater investments through enhanced R&D,… pic.twitter.com/iDBo0W2U7J

— Piyush Goyal (@PiyushGoyal) July 27, 2026

The meeting focused on strengthening India's pharmaceutical innovation ecosystem by attracting greater investments in research and development (R&D), clinical research and advanced therapeutics. The discussions also explored ways to deepen collaboration between the government and the industry to accelerate innovation and enhance the sector's global competitiveness.
Reaffirming the Modi government's commitment to the sector, Goyal said the Centre is working to create an enabling environment that promotes innovation while ensuring access to affordable medicines.India's pharmaceutical industry, one of the largest in the world, plays a key role in supplying affordable generic medicines to global markets. The government has introduced several initiatives in recent years to boost domestic manufacturing, research and innovation, aiming to strengthen the country's position as a global pharmaceutical hub.
The sector has also witnessed robust investment and deal activity. According to a recent industry report, India's pharmaceutical and healthcare sector recorded 65 deals worth $13.9 billion during the second quarter of 2026.Even after excluding an $11.8 billion overseas acquisition—the largest-ever international purchase by an Indian pharmaceutical company—overall deal values increased 12 per cent compared with the previous quarter.Mergers and acquisitions accounted for 35 deals worth $13.2 billion, with transaction volumes rising 17 per cent quarter-on-quarter and deal values reaching an all-time high. Outbound transactions contributed 96 per cent of the total M&A value, reflecting the growing global footprint of Indian pharmaceutical companies.