HYDERABAD: Union Minister of Commerce and Industry Piyush Goyal said the theme of BioAsia 2025, ‘Catalyst of Change’, aptly reflected India’s evolving role in pioneering innovations, fostering cross-border collaborations and advancing cutting-edge technologies to revolutionise global healthcare.
He addressed the closing ceremony of BioAsia 2025 on Wednesday evening through a video message. Speaking on the occasion, he said, “India is recognised as the pharmacy of the world, supplying affordable generic medicines to over 200 countries. Today, we are undergoing a significant transformation from volume to value, with a sharp focus on innovation, R&D, and high-value biopharmaceuticals. With initiatives such as the Production-Linked Incentive (PLI) scheme for pharma, the Genome India Project and biomedical devices, India is poised to lead the next wave of healthcare manufacturing. In the past decade, we have taken revolutionary steps in public healthcare—providing free treatment to crores of Indians, offering medicines at an 80% discount through Jan Aushadhi Kendras, and building modern medical infrastructure.”
He further emphasised India’s commitment to collaborating with global stakeholders to address pressing healthcare challenges. “From tackling pandemics to developing digital health solutions, India offers unmatched talent, cost advantages and a thriving ecosystem,” he added.
Union Coal and Mines Minister G Kishan Reddy, who also spoke at the valedictory event, highlighted Hyderabad’s growing reputation as a global life sciences hub. “Hyderabad is no longer just the Pearl City; it is now recognised as the pharmacy of the world and a centre for world-class hospitals. It is only fitting that a global event like BioAsia is held here,” he said.
“This event underscores India’s strong leadership in life sciences, pharmaceuticals and healthcare innovation. India ranks third globally in pharmaceutical production by volume, supplying over 60% of the world’s vaccines and 20% of global generic drugs — ensuring that affordable medicines reach people worldwide. Over the past decade, our pharmaceutical exports have nearly doubled from $15 billion in 2014 to $27.85 billion in FY 2024,” the BJP state president added.
State IT & Industries Minister D Sridhar Babu hailed BioAsia 2025 as a resounding success, surpassing all expectations and setting a new benchmark in its history.
“This year’s summit saw unprecedented participation from over 4,000 global leaders, including top executives from the pharma and healthcare industries, policymakers, and innovators. The event provided a platform for 100 leading experts to discuss critical challenges in healthcare and pharmaceuticals, paving the way for transformative solutions. With over 200 B2B (business-to-business) meetings, this year’s edition facilitated record-breaking investments. Notably, US biotech giant Amgen has made a significant investment in Telangana, creating 3,000 high-value jobs — a testament to our state’s potential as a life sciences powerhouse. As the ‘Heart of Life Sciences’, Telangana is making great strides in biotech and pharma innovation. We urge the Union government to establish a state-of-the-art Vaccine Testing Facility at Genome Valley, which would be a game-changer for the industry,” Sridhar said.