Japanese Cos. may invest 2200 Cr in Pharma, Medical Devices industry in India

NEW DELHI: The Indian government has invited Japanese pharmaceutical and medical devices manufacturing companies to set up ventures in Gujarat, Telangana, Andhra Pradesh, Himachal Pradesh, and Goa, and has offered a bouquet of incentives to woo them to India.

The offerings included schemes to promote the manufacturing of bulk drugs and medical devices such as Production Linked Incentive schemes and Promotion of Bulk Drug/Medical Devices Parks. It is estimated that Japanese companies would make the investment to the tune of Rs. 2,200 Crore in this sector.

A webinar on ‘Medical Devices and API sector: Challenges & Emerging Opportunities’ was recently held for promoting business and trade collaboration between India and Japan in the post-COVID-19 scenario.

It was organized by the Embassy of India, Tokyo in partnership with JETRO Japan, Japan Pharmaceutical Traders Association (JAPTA); Japan Federation of Medical Devices Associations (JFMDA); Department of Pharmaceuticals, Government of India and State Governments of Telangana, Andhra Pradesh, Himachal Pradesh, Gujarat, and Goa.​

Those who represented the Indian government in the webinar included Sanjay Kumar Verma, Indian Ambassador in Japan, Dr. P. D. Vaghela, Secretary, Pharmaceuticals, Navdeep Rinwa, Joint Secretary, Pharmaceuticals, and Ms. Mona K C Khandhar, Minister (Economic & Commerce), Indian Embassy, Tokyo. The webinar was attended by around 200 participants from Japan and India

Sanjay Kumar Verma, Ambassador of India to Japan shared his 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, 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.

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.

​Representatives of Japan Pharmaceutical Traders Association and Japan Federation of Medical Devices Associations deliberated on the Post COVID-19 challenges & 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 stabilizing the supply-chain of especially APIs and Medical Devices. A representative of JETRO Chennai also shared insights on challenges and emerging opportunities in the 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 the Indian economy, FDI ecosystem & Japan-specific facilitation were also mentioned.

​Representatives of Japanese subsidiaries of Indian companies Nipro India Corp and Eisai Pharmaceuticals India Pvt Ltd shared a detailed presentation and their experience about the ‘Make in India’ program.

​Representatives of major Indian Pharmaceutical and Medical Device Associations presented the future growth opportunities and way forward for the Pharmaceutical and Medical Device industry in India.

​Representatives of State Governments of Gujarat, Telangana, Himachal Pradesh, and Goa offered finer details of the investment opportunities in their respective States including a package for incentives and tax benefits, ease of doing business initiatives, land availability, infrastructural facilities, regulatory framework and invited Japanese companies for investing in their respective States.

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

The topics of the presentation during the webinar included Post COVID-19 challenges & opportunities for Pharma sector & impact on the value chain; Sectoral overview, Incentive schemes and investment opportunities in India; Opportunities in India for MeD, Enhanced FDI ecosystem & facilitation; Future growth opportunities & way forward for Pharma sector; Future growth opportunities & way forward for MeD sector; Investment opportunities in the sectors in the state of Gujarat, Andhra Pradesh, Himachal Pradesh, Goa, and Telangana.