India Leads Global Healthcare Innovation: Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal has said that the theme of BioAsia 2025, 'Catalyst of Change' captures India's growing leadership in driving innovations, stimulating international collaborations, and developing cutting-edge technologies to transform global healthcare.

Through a video message on the evening of Wednesday, at the BioAsia 2025 closing ceremony, he added, "India is recognised as the pharmacy of the world, supplying affordable generic medicines to over 200 countries. Today, we are undergoing a significant transformation from volume to value, with a sharp focus on innovation, R&D, and high-value biopharmaceuticals. With initiatives such as the Production-Linked Incentive (PLI) scheme for pharma, the Genome India Project and biomedical devices, India is poised to lead the next wave of healthcare manufacturing. In the past decade, we have taken revolutionary steps in public healthcare—providing free treatment to crores of Indians, offering medicines at an 80% discount through Jan Aushadhi Kendras, and building modern medical infrastructure."

BJP state president eulogized India as having world-class leadership in life sciences, pharmaceuticals, and healthcare innovation. He mentioned that India ranks third globally in pharmaceuticals, by production volume, supplying over 60 of the world's vaccines and 20 of the world's generic drugs, ensuring the access of affordable medicines to the world. In the previous decade, he added, pharmaceutical exports from India have very nearly doubled, moving up from $15 billion, 2014, to $27.85 billion in 2024 fiscal year.

"Hyderabad is no longer just the Pearl City; it is now recognised as the pharmacy of the world and a centre for world-class hospitals. It is only fitting that a global event like BioAsia is held here", said G Kishan Reddy Union Coal and Mines Minister.

State IT&Industries Minister D Sridhar Babu acknowledged that BioAsia 2025 was a spectacular success beyond his expectations and set yet another milestone in its history.