India invites Japanese companies to invest in pharma & medical devices industry

New Delhi: Already sharing deep cultural and historic ties, the last few years have witnessed ​increased business partnership between India and Japan. Both nations are combining their expertise to jointly develop solutions across various sectors. To discuss the way forward, a webinar on ‘Medical Devices and API sector: Challenges & Emerging Opportunities’ was held on 22nd May, 2020 for business and trade collaboration between two countries in the post-COVID-19 scenario. The webinar was organized by the Embassy of India, Tokyo in partnership with the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India.​

Mr Sanjay Kumar Verma, Ambassador of India to Japan shared his valuable thoughts on the golden opportunity for India and Japan to further boost their relationship in the context of the ongoing COVID-19 crisis.

Dr P. D. Vaghela, Secretary, Department of Pharmaceuticals presented the sectoral view and investment opportunities in the pharmaceutical and medical device industry in India. He also presented various initiatives taken by the Government of India to promote trade and business in the country.

Mr. Navdeep Rinwa, Joint Secretary, Pharmaceuticals explained the Department’s schemes to promote the manufacturing of bulk drugs and medical devices viz. Production Linked Incentive schemes and Promotion of Bulk Drug/Medical Devices Parks and requested the delegates to avail benefits of the schemes.

The representatives from the Pharmaceutical Traders Association and Japan Federation of Medical Devices Associations deliberated on the Post COVID-19 challenges and opportunities for Pharmaceutical & Medical Device sectors and its impact on the global supply chain and suggested that cooperation between the two countries can contribute to stabilize the supply-chain of especially APIs and Medical Devices. The representatives of JETRO Chennai also shared insights on challenges and emerging opportunities in API sector and Medical Devices.

​Ms Mona K C Khandhar, Minister (Economic & Commerce), EoI, Tokyo mentioned about the resilience and strength of the Indian economy and detailed on the stimulus & reform packages announced by the Government of India to address the COVID-19 crisis and to improve the investment environment. The advantages of Indian economy, FDI ecosystem and Japan-specific facilitation were also discussed.

​Japanese subsidiaries Nipro India Corp and Eisai Pharmaceuticals India shared a detailed presentation and their experience about ‘Make in India’ program. Representatives of major Indian Pharmaceutical and Medical Device Associations presented the future growth opportunities and way forward for Pharmaceutical and Medical Device industry in India.

Officials from the state governments of Gujarat, Telangana, Himachal Pradesh and Goa offered finer details of the investment opportunities in their respective States including package for incentives and taxation benefits, ease of doing business initiatives, land availability, infrastructural facilities, regulatory framework and invited Japanese companies for investing in their respective States.

​The representatives of Andhra Pradesh MedTech Zone, Wockhardt, Sun Pharma, Panacea Biotec and other large number of Japanese companies also participated in the webinar as part of G2B and B2B networking.