India’s ambition to move beyond being the “pharmacy of the world” and emerge as a global hub for innovation took centre stage as India Pharma 2026 concluded at FICCI in the national capital after two days of high-level discussions.

The flagship event, organised by the Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers, was held at the Federation of Indian Chambers of Commerce and Industry and drew over 800 delegates. More than 60 speakers participated across 10 sessions, reflecting the growing importance of the platform in shaping India’s pharmaceutical future.

At the heart of the discussions was a clear message: India must act fast to stay competitive in a rapidly evolving global market.

Delivering the valedictory address, Satyaprakash T L, Joint Secretary in the Department of Pharmaceuticals, said the conversations across sessions consistently pointed to three key pillars—funding, infrastructure, and speed. He stressed that stronger coordination between government, industry, and academia will be critical in driving the next phase of growth.

Highlighting India’s progress, Renu Swarup, former Secretary of the Department of Biotechnology, said the country has built a robust innovation ecosystem over the past decade. She noted that improved collaboration between academia and industry has strengthened the entire value chain, from research to product development. Referring to the COVID-19 pandemic, she described it as a defining moment that demonstrated India’s ability to scale innovation quickly. She added that India’s bioeconomy has now reached nearly $195 billion, signalling strong growth momentum.

Industry leaders also laid out bold ambitions. Pankaj Patel called for developing 100 new drugs by 2047, but cautioned that this would require significantly higher investment in research and development. He emphasized the need to nearly double current spending levels to achieve meaningful breakthroughs.

Winselow Tucker underlined the importance of having a clear long-term strategy backed by a phased roadmap. He noted that countries that have successfully built innovation ecosystems have focused on faster regulatory approvals and investor-friendly frameworks.

Meanwhile, Dilip Shanghvi pointed out that although India has excelled in generic medicines, there is still a long way to go in innovation. He said the high-risk nature of pharmaceutical research requires shared responsibility between the government and industry.

Experts also highlighted the need for stronger funding systems. Shivkumar Kalyanaraman explained that a mix of grant-based and capital-based funding can support both academic research and private sector innovation.

Other voices from the industry reinforced India’s potential to lead in affordable innovation. Amit Mookim said the country can create a global model for cost-effective advanced therapies, while Vikrant Shrotriya highlighted the role of continuous scientific advancement. Anirudh Roy Popli noted that investments in innovation can deliver strong returns, while Sunil Thakur flagged the lack of risk capital as a key hurdle.

Participants also pointed out that India is already delivering advanced therapies at a fraction of global costs, showcasing its ability to build scalable and affordable healthcare solutions.

As the event concluded, a clear consensus emerged: India must transition from a volume-driven pharmaceutical sector to an innovation-led powerhouse. Strengthening regulation, boosting infrastructure, deepening collaboration, and increasing investment will be key to achieving that goal—and securing India’s place as a global leader in the next era of healthcare innovation.