New Delhi, July 28: Union Commerce and Industry Minister Piyush Goyal stated that the central government is fully committed to establishing a globally competitive and innovation-driven pharmaceutical industry. The government also aims to ensure affordable healthcare for all.
In a post on the social media platform X, Goyal shared that he had a productive meeting with a delegation from the Indian Pharmaceutical Alliance (IPA), led by its president, Dr. Sharvil Patel.
During the meeting, Goyal and industry representatives discussed opportunities to strengthen India’s pharma innovation ecosystem by attracting more investments in research and development (R&D), clinical research, and advanced therapies.
The discussion emphasized enhancing collaboration between the government and the pharma industry to accelerate innovation and bolster the global competitiveness of the Indian pharmaceutical sector.
Goyal reiterated that the Modi government is committed to creating a conducive environment for the pharmaceutical industry, promoting innovation while ensuring the availability of affordable healthcare services for the public.
India’s pharmaceutical industry is one of the largest in the world and plays a crucial role in supplying affordable generic medicines to global markets.
The government is implementing several initiatives to promote domestic manufacturing, research, and innovation in this sector.
Additionally, a report indicated that in the second quarter of 2026, there were 65 deals worth $13.9 billion in India’s pharma and healthcare sector. Excluding the largest foreign acquisition by an Indian pharma company, valued at $11.8 billion, the total deal value increased by 12% compared to the previous quarter.
Mergers and acquisitions (M&A) activities also showed strength, with 35 M&A deals worth $13.2 billion during this period. The number of transactions rose by 17% quarter-on-quarter, reaching the highest total deal value to date.
Moreover, acquisitions made abroad contributed 96% to the total M&A value.
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