Union Minister Piyush Goyal recently met with Janet Truncale, the Global Chair and CEO of Ernst & Young (EY), to explore India's increasing significance in global supply chains and the potential for investment in Global Capability Centres (GCCs). Goyal highlighted India's robust economic growth and its status as a favored destination for global investments. He also expressed optimism regarding the pharmaceutical sector, stating that India's USD 60 billion pharmaceutical industry is on track to double in size over the next five years. Goyal identified three key pillars of India's pharmaceutical strength: trust, innovation, and cost-effectiveness. He noted that India aligns its Good Manufacturing Practices with global standards and produces a significant portion of the world's vaccine requirements. Moreover, the government has initiated the Biopharma Shakti program and committed a USD 10 billion fund to foster innovation across various sectors, including pharmaceuticals. Goyal emphasized that India's lower operational costs make it an attractive location for global innovation.