Hyderabad, April 4 (RAHNUMA): The Government of India reaffirmed strong support for the pharmaceutical sector at a high-level Chintan Shivir organized by the Department of Commerce and Pharmexcil.
The inaugural session was chaired by Rajesh Agrawal, Secretary, Department of Commerce. Senior officials including the Chairman of Pharmexcil and Joint Secretary from the Department of Pharmaceuticals addressed the gathering.
The Commerce Secretary, in his address, highlighted the strong growth trajectory of India’s pharmaceutical industry, noting that India, with nearly 18–19% of the world’s population, is itself a large and expanding market where rising incomes will further drive healthcare demand. He underlined that the industry, currently valued at around US$ 60 billion with nearly 50% contribution from exports, has emerged as the “pharmacy of the world” on account of its scale, cost competitiveness, and global leadership in generic medicines. He stressed self-reliance, quality, and resilient supply chains amid global uncertainties. He urged a shift from volume to value-driven growth, with greater focus on innovation, biologics and biosimilars.
The event aligned with Prime Minister Narendra Modi’s vision of making India a global healthcare innovation hub. Discussions covered export expansion, regulatory challenges, and AI-driven efficiencies. The launch of iPHEX 2026, scheduled to be held from September 7 to 9 this year, was also announced. The deliberations will feed into policy measures aimed at enhancing export competitiveness.
The Shivir concluded with industry-government interactions aimed at strengthening India’s position as the “Pharmacy of the World.”
