Take advantage of prospects in Indian pharma: Mandaviya to Japanese cos

New Delhi: While interacting with representatives of Japanese pharmaceutical companies, Union Health Minister Mansukh Mandaviya said on Monday that India is recognised as a global pharmaceutical hub with its industry playing a pivotal role in improving health outcomes worldwide by serving as a dependable supplier of affordable and high-quality drugs.

Encouraging Japanese companies to take advantage of growing opportunities in the Indian market, Mandaviya said, “The pharmaceutical industry in India has been attracting a lot of investment from foreign companies and seeing partnerships and collaborations. This has opened up exciting opportunities for global pharmaceutical companies to enter the Indian market.”

The new production linked incentive (PLI) schemes have encouraged manufacturers to produce drugs in India, with the aim of supplying them to the global market, he said during his interaction with members of the Japan Pharmaceutical Manufacturers Association (JPMA) at the Indian Embassy in Tokyo on Monday. As per the health ministry’s statement, JPMA’s director general Junichi Shiraishi and managing director Sachiko Nakagawa were present in the discussions.

Addressing the gathering, Mandaviya said, “India is recognised as a global pharmaceutical hub with its industry playing a pivotal role in improving health outcomes worldwide by serving as a dependable supplier of affordable and high-quality drugs.” “India has played a significant role in enhancing global accessibility by providing approximately 60 percent of the global vaccine supply and 20-22 percent of generic exports,” he said.