India is one of the countries with the highest levels of industrial development worldwide. Its companies are actively involved across a wide range of productive sectors and maintain a strong presence in major international markets.
It is the world's fifth-largest economy and is projected to become the third by 2030, according to the International Monetary Fund (IMF).
With a population of 1.4 billion and one of the planet's youngest workforces, India offers a large and fast-growing market backed by strong government support for foreign investment.
One of the industries that has shown great interest in developing jointly with its Peruvian counterpart is pharmaceuticals, according to a report published in the Economika Supplement of the Official Gazette El Peruano.
"One of the objectives set by the Lima Chamber of Commerce (CCL) was, precisely, to foster increasingly fluid exchanges between pharmaceutical companies from India and Peru," CCL's Sustainability and Enterprise Commission Chairman Omar Cardenas stated.
India is one of the leading players in the global pharmaceutical market.
For its part, Peru still faces shortcomings in the domestic production of inputs used in drug manufacturing.
Presence in Peru
"Similarly, this represents an excellent opportunity for producers and manufacturers to learn how the sector has been developing in Peru, identify their needs, and assess how those requirements can be met in both the public and private healthcare spheres," the executive said.
The CCL representative said the presence of Indian pharmaceutical companies has grown significantly over recent years.
"Thus, last year Peru imported more than $73 million worth of pharmaceuticals from India, a figure that represents 27% growth compared with imports recorded in 2024," Cardenas pointed out.
He said this serves as a very important benchmark of the growing interest among many Peruvian companies in establishing ties with their Indian counterparts.
"Of course, there were some fluctuations; we must remember that we recently endured a pandemic that put the entire healthcare system to the test," Cardenas recalled.
"The medicines market is very broad, as the bulk of demand for pharmaceutical products from India was directed toward meeting Peru's needs," he said.
The executive said there were imports from other markets as well.
"This is partly because our healthcare system is more resource-demanding. Let's remember that we are a middle-income country and can project that we are no longer seeking low-cost medicines, but higher-quality ones," he noted.
Local development
In Cardenas' view, this entails the local development of these products in Peru through the implementation of research processes.
"Many Indian producers are interested in ancestral knowledge, as well as in identifying the potential behind Peru's traditional medicine to drive research and scientific development," he remarked.
The CCL official said health regulations in Peru are very strict with regard to the pharmaceutical industry.
"They are highly demanding in terms of quality. There is a perception that large-scale manufacturing may imply lower prices and, consequently, lower quality," Cardenas mentioned.
"However, the General Directorate of Medicines, Supplies and Drugs (Digemid) is carrying out very important work in this area, and we have no doubt that it adequately safeguards compliance with the required international standards and accreditations," he said.
Plants in Peru
The chairman of the CCL's Sustainability and Enterprise Commission said that many Indian pharmaceutical producers are interested in establishing operations in Peru.
"Our country represents an excellent hub for exporting to other parts of the region, given the strengths Peru offers within the regional trade system, as well as its free trade agreements, geographic proximity, stronger tourism development, among other advantages," Cardenas commented.
The Peru–India Pharmexcil 2026 Business Roundtable was recently held in Peru.
This event was organized by the Lima Chamber of Commerce (CCL) and the Pharmaceuticals Export Promotion Council of India (Pharmexcil), resulting in 1,015 B2B meetings between Peruvian companies and 81 Indian pharmaceutical manufacturers.
