By: IPP Bureau
Last updated : June 10, 2026 5:15 pm
Mohit Yadav reaffirmed government's commitment to improve competitiveness, enhance export capabilities and support the country's transition from volume-driven to value-driven exports
The Department of Commerce (DoC), Government of India, organised an outreach programme at the Mumbai regional office of the Pharmaceuticals Export Promotion Council of India to showcase the government's key achievements, reforms and policy initiatives undertaken over the past 12 years to strengthen India's export ecosystem and pharmaceutical sector.
The event brought together representatives from leading industry bodies, including the Indian Drug Manufacturers' Association, Indian Pharmaceutical Alliance and International Pharmaceutical Excipients Council of India, along with industry stakeholders such as ACG and FDC Limited.
Addressing the media, Mohit Yadav, Joint Secretary, Department of Commerce, highlighted India's expanding export footprint, increasing market diversification and strengthening trade relationships with key global partners.
Yadav said the government is working closely with industry to improve competitiveness, enhance export capabilities and support the country's transition from volume-driven to value-driven exports.
According to Yadav, India's pharmaceutical industry has evolved into a strategic national asset over the past decade. “The sector has grown from approximately US$ 20 billion in 2014 to nearly US$ 60 billion in 2026 and is projected to reach US$ 130 billion by 2030."
"During the same period, pharmaceutical exports increased from US$ 14 billion in FY2015 to around US$ 31 billion in FY2026, representing a compound annual growth rate of 7.4 percent. The government has set an ambitious target of achieving US$ 50 billion in pharmaceutical exports by 2030,” DoC Joint Secretary outlined.
“Today, India is the world's third-largest pharmaceutical producer by volume, supplies nearly 20 percent of global generic medicine demand and exports pharmaceutical products to more than 200 countries. More than 60 percent of these exports are destined for highly regulated international markets,” he said.
Emphasising India's strengths, Yadav said global healthcare systems increasingly seek quality, continuity and affordability in their supply chains, areas where India has demonstrated significant capability. He pointed to India's approximately 1,000 US FDA-registered manufacturing facilities—the highest number outside the United States—as evidence of its strong regulatory and quality standards.
The Joint Secretary also highlighted India's ability to maintain uninterrupted medicine supplies during periods of disruption, including the COVID-19 pandemic and recent geopolitical challenges, reinforcing the country's position as a dependable global supplier.
Among the future-focused initiatives highlighted was Biopharma SHAKTI (Strategy for Healthcare Advancement through Knowledge, Technology and Innovation), a proposed Rs. 10,000 crore programme over five years aimed at positioning India as a global hub for biopharmaceutical manufacturing.
Yadav also pointed to India's growing role as a global centre for pharmaceutical knowledge services.
“Multinational pharmaceutical companies are increasingly setting up Global Capability Centres (GCCs) in India, collectively employing more than 100,000 professionals and attracting investments exceeding US$ 1 billion,” Yadav informed.