Goyal calls for making pharma sector more attractive for investments in clinical trials, R&D

07 Sep 2026 Evaluate

Commerce and Industry Minister Piyush Goyal has called for making the pharmaceutical sector more attractive for investments in clinical trials, patenting products, conducting research and development (R&D) and introducing new products in India. He urged domestic regulators to look at global practices and adopt best practices. He also emphasized developing resilient supply chains to avoid dependence on single geographies for necessary imports.

On investments, the minister said there was a need to keep an open mind and move away from a protective approach, as such practices were no longer relevant. He asked the domestic regulators to study regulations of developed countries, take a cue from what is happening in the world. He said ‘and look at your own regulations for more regulatory convergence with the developed world because unless our mindset and thoughts are aligned with the developed world, India cannot aim to become a developed country for 2047.’ He also said ‘we need to hear the investors who want to come to India, hear the demand of governments globally and together craft out a new pathway for success of the industry in the years to come’.

He further said the whole world is now looking for resilience as countries are not comfortable if a country or company is dependent on one or two geographies or if a supply chain has a potential threat of being weaponised which could hurt the entire industry. He said ‘we have lost out on APIs (Active Pharmaceutical Ingredients) and KSMs (key starting materials) and all... but now is the time to get back by resilience.’ He added that now developing countries like India are competing with rich countries in attracting investments, besides goods and services. He said ‘look at the US, Canada, Mexico, Japan, Korea, Singapore, all of Europe, they are trying to attract investments in their geographies, adding that gone are the days when only developing countries like India were attracting investments.’ He also suggested that the pharma industry consider investing in other countries, as it now needs a global outlook.

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