New Delhi [India], September 7 (ANI): Union Commerce Minister Piyush Goyal on Sunday inaugurated the Bharat Health Global Expo 2026 at Bharat Mandapam, New Delhi. As the pharmaceutical industry enters its next phase of growth, he called for a sharper focus on innovation, quality systems and complex, higher-value products.
He said, “With the active and hard work of the pharma industry over the years on generics, India has become quite a success story. But we cannot rest our case with generics. We will have to promote more and more R&D, patent our own products, and put pharma at the forefront of research and innovation. Biosimilars and biotech should become our next frontier. We need a regulatory environment where R&D and innovation become attractive in India, with greater openness to investments in clinical trials, patenting, research and new product development.”
He further said India must match its existing scale with stronger R&D, better quality systems, greater resilience and deeper capabilities in complex products. He also called for closer regulatory convergence with developed markets, and for a policy approach that listens to investors and responds to what global markets require.
“The world is now looking for resilience,” he added. “Resilience does not mean being inward-looking. It means ensuring that supply chains are diversified across geographies and companies, while also identifying areas where India has the potential to build indigenous capabilities.”
Speaking at the event, Jitin Prasada, Union Minister of State for Commerce and Industry, said, “India's next phase will be from affordable medicines towards pharmaceutical innovation. We have great research, talent and young people with the expertise to take this forward, but technology adoption will be critical. Artificial intelligence in particular will have to be adopted across the pharmaceutical value chain if Indian companies are to remain competitive and move to the next level.”
Rajesh Agrawal, IAS, Secretary, Department of Commerce, said, “India has already unlocked the volume opportunity across the world, and the next priority is to tap the value opportunity. We need to look towards more innovative drugs and solutions and build capabilities across the healthcare supply chain. Our trade agreements are also opening more markets, with pharmaceutical annexes focused not only on tariff concessions but on regulatory harmonisation and clearer pathways for Indian companies to enter and grow in global markets.”
Namit Joshi, Chairman, Pharmexcil, said, “India has predominantly been called the pharmacy of the world because of its strength in generics. The focus now must be on value-added products, including APIs, KSMs, complex generics and biosimilars. Indian companies and overseas delegates should explore these opportunities and build long-term partnerships, including in CDMO, to create value for both sides.”
Bhavin Mehta, Vice Chairman, Pharmexcil, said, “India's strength in affordable medicines has established its position in global healthcare, but the next phase lies in complex formulations, biosimilars, biologics, vaccines and specialised products. Greater investment in research, product development, advanced manufacturing and quality systems will help Indian companies move up the value curve and build long-term global partnerships.”
The Bharat Health Global Expo 2026 brings India's healthcare and life-sciences capabilities onto a single platform for international markets, with a focus on exports, innovation, global buyers and long-term partnerships. Pharmaceuticals form the principal pillar, alongside pharmaceutical machinery and laboratory solutions, nutraceuticals and healthcare services. The Expo is built around four events: iPHEX 2026, the 12th edition of India's flagship pharmaceutical exhibition, organised by the Pharmaceuticals Export Promotion Council of India (Pharmexcil) with the support of the Department of Commerce; Pharma Mach and Lab Next Expo, organised by EEPC India, covering machinery, laboratory, automation and packaging technologies; Bharat Nutraverse, organised by the Shellac and Forest Products Export Promotion Council (SHEFEXIL), covering nutraceuticals, natural products and wellness; and SANJEEVANI, organised by the Services Export Promotion Council (SEPC), covering hospitals, diagnostics, digital health and medical value travel. iPHEX 2026 will run from 7 to 9 September.
Pharmexcil is targeting around USD 1.4 billion in export business opportunities through iPHEX 2026, which will feature more than 800 stalls, 600 hosted international buyers, around 30,000 business visitors and 10,000+ business meetings. (ANI)
India must build on its strength in generics to become global leader: Piyush Goyal
