India committed to collaborating with global stakeholders to address healthcare challenges: Piyush Goyal

India is committed to partnering with international stakeholders to tackle global healthcare challenges, ranging from pandemics to digital healthcare solutions, Union Commerce Minister Piyush Goyal stated on Wednesday.

Addressing BioAsia 2025, the premier life sciences and health-tech event organised by the Telangana government, he said India offers unmatched talent, cost advantages and a thriving innovation ecosystem.

He also emphasised that under Prime Minister Narendra Modi's leadership, India is driving innovations, fostering international collaborations, and accelerating the adoption of advanced technologies to transform healthcare delivery on a global scale.

India is recognised as the pharmacy of the world supplying affordable generics to over 200 countries.

"Today, we are making a significant transition from volume to value with a sharp focus on innovation, R &D and high value biopharma," he said.

With initiatives like the Production Linked Incentive (PLI) schemes for pharma, bulk drugs and medical devices, along with the Genome India project, Goyal said India is poised to lead the next wave of healthcare manufacturing.

He also mentioned that over the past decade, transformative steps have been taken in public healthcare, such as providing free treatment to millions of Indians, establishing Jan Aushadhi Kendras, and building modern medical infrastructure, all of which have revolutionised healthcare delivery in the country.

In the recent budget, the government has announced significant concessions for cancer related and other life saving drugs, he pointed out.

As the country makes rapid progress under PM Modi's leadership, the people of Telangana are also benefiting from transformational reforms like Kakatiya Mega Textile Park in Warangal, industrial node in Zaheerabad and an AIIMS at Bibinagar, he added.

He also recalled the launch of the National Turmeric Board at Nizamabad.

"I urge global investors and industry leaders to seize the immense opportunities that India presents."

Union Coal Minister G Kishan Reddy attended the valedictory session of the two-day event.

Telangana Chief Minister A Revanth Reddy, who inaugurated the event on Tuesday, said his government envisions developing Hyderabad and Telangana into one of the world's best and largest ecosystems for biosciences, biotech and life sciences, innovation, R&D, manufacturing and skills development.