Union Health Minister invites Japanese companies to invest in India’s pharma sector

New Delhi, May 16 (KNN) Union Health Minister Mansukh Mandaviya on Monday invited Japanese companies to take advantage of growing opportunities in the Indian market and invest in the country’s pharmaceutical sector.

In an interaction with the representatives of Japanese pharmaceutical companies and members of the Japan Pharmaceutical Manufacturers Association (JPMA) at the Indian Embassy in Tokyo, the health minister said that the Indian pharmaceutical industry includes a network of 3,000 drug companies and 10,500 manufacturing units and it is expected to reach a value of USD 130 billion by 2030.

He also invited Japanese collaboration on research and innovation in emerging innovative therapies and technologies such as precision medicine, cell and gene therapy, biological products, and on the utilization of digital tools.

Highlighted the significant role of the India’s Pharma sector, 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.”

The Minister added that with the aim to promote research and development in the pharmaceutical sector, the Indian government has established six national institutes of pharmaceutical education and research and designated them as ‘institute of national importance’.

JPMA’s director general Junichi Shiraishi and managing director Sachiko Nakagawa were present in the discussions, according to a Health Ministry statement.  (KNN Bureau)