USIBC Concludes Successful Pharmaceutical Mission to India; Looks Forward to Continued Dialogue and Collaboration with the Government of India
U.S. brings large industry delegation; focused on enhancing healthcare partnership between the government and private sector
WASHINGTON--(BUSINESS WIRE)--The U.S.-India Business Council (USIBC) has concluded its Pharmaceutical Executive Mission to Delhi, India. The delegation expressed its commitment to the Indian market, called for further dialogue with the government on issues related to pricing and intellectual property, and discussed strategies for expanding greater access to healthcare and health insurance in India. USIBC’s Executive Mission was led by Paul Schaper, Executive Director, Global Health Policy, Merck and included senior representatives from Johnson & Johnson, Baxter, Mylan, Abbott, Eli Lilly, Waston, and Quintiles.
“We had productive meetings with the Government of India”
During its visit, the Pharmaceutical Delegation met with the Ministry of Health, National Pharmaceutical Pricing Authority, Department of Industrial Policy and Promotion within the Ministry of Commerce and Industry, Drugs Controller General of India, Indian Institute of Corporate Affairs, and the Department of Biotechnology. The delegation also hosted briefings with the U.S. Embassy, Confederation of Indian Industry, Khaitan & Co., and representatives of the healthcare industry.
“We had productive meetings with the Government of India,” said Paul Schaper, leader of the USIBC delegation. “They included discussions regarding ways to increase access to healthcare, the benefits of innovation and intellectual property rights, and avenues for the industry to partner with the government. We look forward to continued dialogue with the government on how we can collaborate to address the healthcare challenges in India.”
“USIBC’s Pharmaceutical Mission is about looking forward—how the pharmaceutical industry can play a role in increasing access to healthcare and how it contributes to the economic development of India. The opportunity for the future is bright, full of the possibility of partnership. This is the message we will carry back to our boardrooms,” said Schaper.
“Our delegates left India enthusiastic about the India opportunity. In all of our meetings we sensed an eagerness to assure investors that India was open for business. The pharmaceutical industry was pleased by the willingness to dialogue and assist on solving investment challenges, especially as expressed by the Department of Industry Policy and Promotion and the National Pharmaceutical Pricing Authority,” said Amy Hariani, who leads the Life Sciences Committee with the U.S.-India Business Council.
Foreign Direct Investment (FDI) in pharmaceutical sector is one of the top investment sectors in India. “This remarkable growth of FDI in India by American companies and the increased FDI in the United States by Indian Pharmaceutical companies indicates the strong two-way partnership in India and the United States, making it a win-win for both countries,” said Hariani.
Formed in 1975 at the request of the U.S. and Indian governments, the U.S.-India Business Council (USIBC) is the premier business advocacy organization advancing U.S.-India commercial ties. Today, USIBC is the largest bilateral trade association in the United States, with liaison presence in New York, Silicon Valley, and New Delhi, comprised of 300 of the top-tier U.S. and Indian companies. The Chairman of USIBC is Ajay Banga, CEO and President, MasterCard Worldwide.