The Department of Commerce organised an outreach program at the Regional Office of the Pharmaceuticals Export Promotion Council of India (Pharmexcil) in Mumbai to highlight the department’s major achievements, reforms and policy initiatives over the last 12 years.

The program was attended by representatives of industry associations, including the Indian Drug Manufacturers’ Association (IDMA), Indian Pharmaceutical Alliance (IPA) and International Pharmaceutical Excipients Council of India. Industry representatives from ACG, FDC and other stakeholders also participated.

During his media interaction, Mohit Yadav, Joint Secretary, Department of Commerce, highlighted India’s strong export trajectory, growing market diversification and deepening trade relations with key partner countries. He said the government is working closely with industry to strengthen export capabilities, improve competitiveness and support India’s transition from volume-led exports to value-led exports.

The Joint Secretary noted that, over the last 12 years, the Indian pharmaceutical sector has emerged as a strategic sector and a source of national pride. India is today widely recognised as the Pharmacy of the World”, a reputation earned through scale, quality, affordability and dependable supply. The sector has grown from about USD 20 billion in 2014 to nearly USD 60 billion in 2026 and is expected to reach USD 130 billion by 2030. India’s pharmaceutical exports have increased from USD 14 billion in FY 2015 to about USD 31 billion in FY 2026, registering a Compound Annual Growth Rate (CAGR) of 7.4 percent, with the ambition to reach USD 50 billion by 2030.

He underlined that affordability remains India’s defining strength. Indian generic medicines have enabled access to treatment for millions across the world. India is the third-largest producer of pharmaceuticals by volume, supplies around 20 percent of global generic medicines demand, and exports pharmaceutical products to over 200 countries. More than 60 percent of India’s pharmaceutical exports go to stringently regulated markets.

The Joint Secretary said the world today seeks quality, continuity and affordability in healthcare supply chains, and India offers all three. Quality is reflected in India’s strong regulatory footprint, including about 1,000 US FDA-registered sites, the highest number outside the US. Continuity is reflected in India’s ability to deliver medicines during disruption, including during the pandemic and recent geopolitical challenges. Affordability is reflected in the global reach of Indian generics.

He noted that Maharashtra occupies a special place in India’s pharmaceutical journey. Mumbai, Pune, Chhatrapati Sambhajinagar, Tarapur and nearby clusters have emerged as important centers of pharmaceutical manufacturing, research, exports and skilled talent.

Industry representatives commended the efforts undertaken by the Government of India over the last 12 years to improve ease of doing business and strengthen the export ecosystem. These include digital issuance of Registration-cum-Membership Certificates, digital Certificates of Origin, the Trade Connect ePlatform, the Trade Infrastructure for Export Scheme portal, the Export Promotion Mission, research and development-linked support measures, and initiatives to strengthen quality, compliance and market access.

The Joint Secretary also highlighted Biopharma SHAKTI, formally Strategy for Healthcare Advancement through knowledge, technology and innovation. The initiative has been proposed with an outlay of INR 10,000 crore over 5 years to position India as a global biopharmaceutical manufacturing hub. It seeks to build an ecosystem for domestic production of biologics and biosimilars, strengthen research and development, upgrade clinical trial infrastructure, promote collaboration among academia, research institutions and industry, and improve India’s competitiveness in the global biologics supply chain.

He further said that India is emerging as a hub for pharmaceutical knowledge services. Multinational pharmaceutical companies are increasingly establishing Global Capability Centers (GCCs) in India, employing more than 100,000 professionals and attracting investments of over USD 1 billion. These centers support analytics, clinical operations, regulatory science, pharmacovigilance, digital health and research.

The Joint Secretary stated that India’s trade agreements with key partners will open new opportunities for the pharmaceutical sector. Agreements and ongoing engagements with partners such as the United Arab Emirates (UAE), Australia, the UK, the European Union (EU), European Free Trade Association (EFTA), the Sultanate of Oman and New Zealand are expected to support market access, regulatory cooperation, investment partnerships and technology collaboration. The India-EFTA Trade and Economic Partnership Agreement, backed by a commitment of USD 100 billion in investment over 15 years, offers further possibilities in life sciences, research, manufacturing and advanced health technologies.

Looking ahead, he said the next phase of growth will be defined by India’s movement from volume to value. Generics will remain the foundation of the sector, while future growth will increasingly be shaped by biosimilars, biologics, gene therapies, specialty medicines, vaccines, complex generics, contract manufacturing, medical devices and greater self-reliance in Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs).

The Joint Secretary reiterated that India brings scale, skill, science, standards and social commitment to global healthcare. He said the Department of Commerce will continue to work closely with industry stakeholders to maximise the benefits of India’s trade agreements, address regulatory and geopolitical challenges, and support India’s ambition to become a leading global hub for high-value pharmaceuticals, affordable innovation and innovative drugs.