2026 Expo: India Must Lead in New Molecules and Biotech, Says Goyal

For biotech and pharma executives, the most consequential part of the Bharat Health Global Expo 2026 address is the government's explicit endorsement of a move away from generics. The call to lead in R&D, new molecules, and biotech suggests India's policy machinery is preparing to reward innovation rather than volume. That creates a different opportunity set for drug developers, CROs, and biologics manufacturers, while raising the bar for R&D intensity.

On September 6, 2026, India's Commerce and Industry Minister Piyush Goyal used the Bharat Health Global Expo 2026 in New Delhi to deliver a clear policy message: the Indian pharmaceutical sector must move beyond its generics dominance and establish leadership in research and development, new molecular entities, and biotechnology. The speech also linked that innovation agenda to supply chain resilience, framing India as a trusted healthcare partner in a world increasingly anxious about pharmaceutical dependencies. This combination of innovation and reliability is likely to shape Indian pharma policy and investment priorities over the next several years.

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The minister acknowledged that India had earlier lost ground in Active Pharmaceutical Ingredients and Key Starting Materials for a variety of reasons.

India has long been known as the "pharmacy of the world," a label Goyal himself highlighted, but that reputation has been built largely on high-volume, low-cost generic medicines rather than proprietary innovation. The minister acknowledged that India had earlier lost ground in Active Pharmaceutical Ingredients and Key Starting Materials for a variety of reasons. That admission is significant because it recognizes an economic and strategic vulnerability: despite producing a large share of finished formulations, Indian manufacturers remain dependent on imported chemical inputs, particularly from concentrated sources. Restoring that upstream capability is now being framed not simply as an industrial policy goal but as a national security and public health imperative.

The supply chain language was explicit. Goyal said the world is increasingly looking for resilient supply chains and is not comfortable with excessive geographical dependence on one or two locations or with supply chains that could potentially be weaponised. That phrasing aligns India with broader global efforts to de-risk critical pharmaceutical manufacturing. For countries and healthcare systems seeking alternatives to concentrated API production, India's scale, regulatory familiarity, and existing manufacturing base make it a natural partner. But the minister also made clear that India must earn that role by addressing its own upstream gaps.

One concrete proposal in the speech was pooling India's domestic demand to identify products currently imported that have potential for indigenous production. This demand aggregation approach could create viable markets for domestic API and KSM manufacturers, lowering risk for private investment in high-cost chemical and fermentation capacity. It also suggests that future procurement and production incentives may be more coordinated across government buyers and healthcare programs than in the past.

Another major theme was global competition for investment. Goyal noted that competition is no longer limited to developing countries; the United States, Canada, Mexico, Japan, Korea, Singapore, Europe, and other developed economies are also seeking to attract pharmaceutical and supply chain investment. This is a sobering message for Indian industry and policymakers because it means India must compete not just on cost but on infrastructure, regulatory efficiency, incentives, and innovation ecosystems. The minister called for strengthening India's investment proposition, though he did not announce a specific new package in this address.