India pharma sector to focus on R&D and innovation, says Piyush Goyal

Union Commerce Minister Piyush Goyal inaugurated the Bharat Health Global Expo 2026 at Bharat Mandapam in New Delhi, signaling a strategic shift for India's pharmaceutical sector. Goyal emphasized that while India has achieved significant success in the generics market, the industry must now transition toward research and development (R&D), innovation, and higher-value complex products.

Key priorities identified for the next phase of growth include the development of biosimilars and biotechnology. Goyal called for a regulatory environment that attracts investment in clinical trials, patenting, and new product development, while advocating for closer regulatory convergence with developed markets to enhance global supply chain resilience.

Jitin Prasada, Union Minister of State for Commerce and Industry, added that technology adoption, particularly artificial intelligence, will be critical for Indian companies to remain competitive and move beyond affordable medicines toward pharmaceutical innovation.