Business

Piyush Goyal Engages Pharma Leaders to Drive R&D and Global Competitiveness

The discussions come at a time when the spectre of US reciprocal tariffs is prompting several sectors to assess potential impacts and mitigation strategies. While pharmaceuticals, along with electronics, semiconductors, energy products, certain minerals, copper, lumber, bullion, and automobiles, have been exempted from the proposed tariffs, the government is actively engaging stakeholders to safeguard export momentum and identify growth opportunities.

• By Newsdesk
• New Delhi
• Aug 15, 2025

Business

Union Commerce and Industry Minister Piyush Goyal recently held a high-level interaction with leaders from India’s pharmaceutical sector, focusing on strategies to enhance global competitiveness and strengthen the country’s research and development (R&D) capabilities.

Sharing details of the meeting on social media, Goyal wrote, “Had an inspiring interaction with leaders of India's pharmaceutical industry. Discussed strategies to boost competitiveness & advance the R&D ecosystem. Driven by the 'Aatmanirbhar Bharat' & 'Make In India for the World' vision, our Government remains committed to further enhancing India's position in the global healthcare value chain.”

The discussions come at a time when the spectre of US reciprocal tariffs is prompting several sectors to assess potential impacts and mitigation strategies. While pharmaceuticals, along with electronics, semiconductors, energy products, certain minerals, copper, lumber, bullion, and automobiles, have been exempted from the proposed tariffs, the government is actively engaging stakeholders to safeguard export momentum and identify growth opportunities.

Pharmaceuticals remain a vital export segment for India. In FY 2025, nearly 40% of India’s pharma exports were shipped to the United States, accounting for 6% of total US pharmaceutical imports in 2024. A Bain & Company market analysis ranked India 11th globally by value in pharmaceutical exports in 2023, with a 3% share of the global market.

Recent trade data from the Commerce Ministry highlights strong growth in the sector, with drugs and pharmaceuticals exports rising 14.06% year-on-year—from USD 2.33 billion in July 2024 to USD 2.66 billion in July 2025. Alongside pharmaceuticals, engineering goods, electronics, gems and jewellery, and organic and inorganic chemicals were key drivers of merchandise export growth.

Leading Indian pharma companies with significant exposure to the US market include Sun Pharmaceutical Industries, Dr. Reddy’s Laboratories, Cipla, Biocon, Lupin, Glenmark Pharma, and Zydus Lifesciences.

With a focus on innovation, quality, and global partnerships, the government’s engagement with industry players signals a renewed push to cement India’s role as a trusted hub in the global healthcare value chain.

(Source: ANI)