The 9th edition of India Pharma 2026, the flagship event of the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, concluded after two days of extensive deliberations on strengthening India’s pharmaceutical and biopharma ecosystem.
The event brought together over 800 delegates and featured more than 60 speakers across 10 sessions, supported by over 20 partner organisations. Consequently, it reinforced its role as a key platform shaping the sector’s future trajectory.
Key Growth Enablers Identified
Delivering the valedictory address, Satyaprakash T L, Joint Secretary, Department of Pharmaceuticals, emphasised that discussions converged around three critical enablers for the next phase of growth—funding, infrastructure, and speed.
While stakeholders expressed varied perspectives on prioritisation, they agreed that coordinated action across government, industry, and academia remains essential. Furthermore, he stressed that India must proactively position itself in the evolving global pharmaceutical landscape to stay competitive and relevant.
Strengthening the Innovation Ecosystem
Reflecting on the evolution of India’s biotech and pharmaceutical ecosystem, Dr. Renu Swarup, Former Secretary, Department of Biotechnology, highlighted the country’s progress in building a comprehensive innovation value chain spanning discovery, development, and deployment.
Over the past decade, India has significantly improved linkages between academia and industry, creating a more cohesive product development ecosystem. Additionally, she described the COVID-19 pandemic as a testbed that validated India’s capabilities in financing, partnerships, infrastructure, and rapid innovation. She further noted that India’s bioeconomy has reached approximately $195 billion, underscoring strong growth momentum.
Vision for Drug Innovation and R&D Expansion
Looking ahead, Pankaj Patel, Past President of FICCI and Chairman of Zydus Lifesciences, outlined an ambitious vision to develop 100 new drugs by 2047.
To achieve this, he emphasised the need to increase research and development investments from the current 6–7% to 12–15%. Moreover, he highlighted the importance of creating incentive structures for academia and government research institutions to enhance productivity and innovation outcomes.
Regulatory Efficiency and Strategic Roadmaps
At the same time, Winselow Tucker, Co-Chair of the FICCI Pharma Committee and President and General Manager at Eli Lilly India, stressed that transformation in the pharmaceutical sector requires clear strategic intent supported by phased roadmaps and defined milestones.
Drawing from global examples, he pointed out that successful innovation ecosystems prioritise regulatory efficiency, faster approval timelines, and investment-friendly frameworks.
Bridging the Innovation Gap
Meanwhile, Dilip Shanghvi, Executive Chairman of Sun Pharmaceutical Industries Ltd, acknowledged India’s leadership in generics but highlighted the need to strengthen innovation capabilities.
He explained that pharmaceutical innovation involves high-risk investments and long gestation periods, thereby requiring shared responsibility between government and industry.
Strengthening Financing and Investment Ecosystem
Several speakers also highlighted the importance of strengthening financing mechanisms. Dr. Shivkumar Kalyanaraman, CEO of Anusandhan National Research Foundation, outlined a hybrid funding architecture combining grant-based support for academia with capital-based instruments for the private sector.
In addition, Amit Mookim, CEO of Immuneel Therapeutics, highlighted India’s potential to create a global model for affordable advanced therapies.
Similarly, Vikrant Shrotriya, Managing Director at Novo Nordisk, emphasised that continuous scientific advancement and data-driven approaches are key to accelerating next-generation drug discovery.
Furthermore, Anirudh Roy Popli, Partner at McKinsey & Company, noted that investments in innovation can yield up to fourfold returns, reinforcing the case for scaling funding mechanisms.
However, Sunil Thakur, Partner at Quadria Capital and Co-founder of HealthQuad, pointed out that limited risk capital and a weak exit ecosystem continue to constrain large-scale pharmaceutical innovation in India.
India’s Opportunity in Affordable Innovation
Industry participants also underscored India’s potential to emerge as a global leader in affordable innovation. Notably, advanced therapies for complex diseases—often costing up to $500,000 globally—are being delivered in India at significantly lower costs through innovative approaches.
This capability, therefore, positions India to develop scalable and cost-effective solutions for both domestic and international markets.
The Road Ahead: From Volume to Value
Finally, the deliberations highlighted the need to strengthen regulatory harmonisation, enhance translational infrastructure, deepen industry–academia collaboration, and sustain high-risk investments.
Collectively, participants emphasised that addressing these priorities in a coordinated manner will be critical for India’s transition from a volume-driven pharmaceutical sector to a high-value, innovation-led global hub.