Commerce and Industry Minister Piyush Goyal recently met with Janet Truncale, the Global Chair and CEO of EY, to discuss India’s increasing presence in global supply chains and opportunities related to Global Capability Centres (GCCs). They also explored investment prospects considering India’s robust economic growth and its attractiveness as a global investment hub. Goyal highlighted India’s pharmaceutical sector as a testament to the country’s commitment to providing quality and affordable healthcare worldwide.
Janet Truncale had earlier met with Finance Minister Nirmala Sitharaman in New Delhi. Goyal emphasized at a Global Ambassador Meet on the Pharmaceutical Sector that trust, innovation, and partnerships are the pillars of India’s pharmaceutical industry. He pointed out the sector’s adherence to high-quality standards and manufacturing capabilities, making Indian medicines well-received in global markets. Goyal encouraged global companies to invest, manufacture, and engage in partnerships within India’s pharmaceutical sector.
Goyal mentioned that India’s pharmaceutical exports have surged from around $14 billion in FY 2014-15 to about $31 billion in FY 2025-26, with medicines reaching over 200 countries. He highlighted India’s transition towards innovation-driven growth in the pharmaceutical sector while maintaining leadership in generic medicines. The minister underlined India’s role as a reliable global pharmaceutical partner, showcasing a blend of quality, affordability, and dependability. Despite the challenges of the COVID-19 pandemic, India not only met domestic demands but also supplied medicines and vaccines to various nations, especially in the Global South and other emerging markets.
