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Union Minister of Commerce and Industry, Piyush Goyal, held an interaction with key stakeholders from India's pharmaceutical ecosystem, focusing on strengthening industry growth and regulatory reforms.
In a social media post on Monday, the minister stated that he had an engaging discussion with industry representatives aimed at enhancing India's position in the global pharma landscape. He said, "Had an engaging interaction with key stakeholders from India's pharma ecosystem, focusing on strengthening our regulatory frameworks and accelerating growth. Discussed industry perspectives on innovation, data protection frameworks, investment commitments and opportunities to scale manufacturing in India." Goyal further reiterated, Modi Government's commitment to developing a future-ready, innovation-led pharma sector capable of boosting competitiveness and attracting high-quality investments. He added that the government remains focused on delivering affordable, world-class healthcare solutions. The meeting comes at a time when the global pharmaceutical industry is assessing the potential implications of the proposed tariff measures announced by the United States. The pharma sector globally is facing the threat of tariffs announced by US President Donald Trump on imports of pharmaceutical products to the US. In September, Trump announced that his administration would impose a 100 per cent tariff on branded and patented pharmaceutical products beginning October 1, 2025, unless the manufacturing companies establish production facilities in the United States. However, the implementation is still pending. Despite the concerns around global trade disruptions, industry representatives in India have expressed confidence that the proposed tariff move will not significantly affect Indian pharmaceutical exports. Sudarshan Jain, General Secretary of the Indian Pharmaceutical Alliance (IPA), had earlier told ANI that India is unlikely to face major challenges if the tariffs are imposed. He said that India's pharmaceutical exports to the US primarily consist of generic drugs and active pharmaceutical ingredients (APIs), which are not covered under the announced tariff. Industry experts believe that India's strong presence in the global generics market provides resilience against such policy changes. The government's ongoing focus on innovation, manufacturing scale, and regulatory efficiency is also expected to support long-term growth. As per government data, the US is the largest importer of India's pharmaceuticals, accounting for over 31 per cent of the total and 47 per cent of its generic exports. India's drugs and pharmaceutical exports to the US increased to USD 2.62 billion in September 2025. (ANI)
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