Piyush Goyal says India targets $100B pharma from $60B
Business
India's pharma sector, now at $60 billion, is gearing up to hit $100 billion over the next five years.
Commerce Minister Piyush Goyal says the country's expertise in making affordable generic medicines and pushing innovation will be key to this growth.
India aims to keep its spot as a global go-to for cost-effective drugs.
Goyal highlights India's FDA plant lead
Goyal highlighted that India has more US Food and Drug Administration-approved plants than anywhere else, making it a trusted supplier for markets like the US and Europe.
He also encouraged global pharma companies to tap into India's massive market of 1.4 billion people and rising middle class.
With strong GDP growth (7.7% in FY26 / the financial year 2025-26), Goyal believes the industry is set for long-term success.