Piyush Goyal welcomes Eli Lilly's USD 1 billion investment in India

New Delhi [India], October 9 (ANI): US-based pharmaceutical company Eli Lilly and Company has announced plans to invest more than USD one billion in India over the next several years, marking one of the largest foreign investments in the country's healthcare manufacturing sector in recent years. Union Minister of Commerce and Industry, Piyush Goyal, welcomed the investment and highlighted the growing presence of India in the global ecosystem.
On Wednesday, in a post on X, Goyal said, "We welcome @EliLillyandCo's $1bn investment in India! This reaffirms our nation's position as a global hub for innovation, R&D, manufacturing, and healthcare solutions. Under PM @NarendraModi ji's leadership, India has made remarkable progress in enhancing Ease of Doing Business and building global trust in its quality ecosystem that has made it one of the most preferred investment destinations."
Eli Lilly and Company (India) has announced plans to invest in new contract manufacturing in India, thereby expanding patients' access to innovative medicines worldwide.
This strategic investment will further strengthen manufacturing and supply capabilities to support Lilly's evolving portfolio. In addition, the company will establish a new Manufacturing and Quality presence in Hyderabad.
The move is expected to create thousands of job opportunities for the state's youth and further strengthen Hyderabad's position as a global life sciences and pharmaceutical hub.
The announcement came after a delegation from Eli Lilly met Chief Minister A Revanth Reddy and Industries Minister D. Sridhar Babu at the Integrated Command Control Centre on Monday.
This latest investment, one of the largest in recent years, comes just months after the inauguration of Eli Lilly's Global Capability Centre (GCC) in Hyderabad on August 4. The new facilities will expand the company's manufacturing capacity and global supply operations, focusing on medicines to treat diabetes, obesity, cancer, Alzheimer's disease, and autoimmune conditions.
"Telangana means business. Hyderabad is a global city. Our government will support and welcome all industries looking to invest here," said Chief Minister Revanth Reddy, reaffirming the state's commitment to fostering a conducive environment for global investors.
The Chief Minister thanked the Eli Lilly leadership for choosing Telangana and assured full government support for future expansions. (ANI)