Invest UP, Japanese firms discuss pharma investments
Lucknow, Oct. 25 -- As part of a step to promote collaboration in pharmaceutical manufacturing, Invest UP has invited Japanese pharma companies to invest in the state.
Top pharma companies of Japan and Invest UP officials on Friday during an online meeting discussed investment opportunities in the pharma sector in the state.
Former IAS officer Awanish Awasthi, an advisor to chief Minister Yogi Adityanath, presided over the meeting.
Senior officials of Invest UP, including CEO Vijay Kiran Anand, were also present at the meeting.
Over 125 leading Japanese pharmaceutical companies participated virtually, alongside representatives from Indian firms such as TI Medicals, Torrent Pharma and 3xper Innoventure.
From Japan, Dr Yoshikazu Hayashi, director general of the Kansai Pharmaceutical Industries Association, and Prof Atsuko Kamiike from Chuo Gakuin University represented the delegation.
Discussions centred on the current landscape and future potential of India's pharmaceutical industry, with a spotlight on the state's emergence as a hub for pharma manufacturing, innovation and research & development.
Prof Kamiike praised India's pharmaceutical sector for its innovation, reliability, and global competitiveness, calling India the 'Pharmacy of the World.'
During the meeting, Awasthi apprised Japanese firms about the state's premier medical institutions such as KGMU, SGPGI, two AIIMS, over 200 medical colleges, and more than 25 MedTech startups, which are collectively producing a skilled workforce for contract development and manufacturing organisations (CDMOs).
Awasthi also pointed out the state's world-class infrastructure, which includes 13 expressways (7 operational and 6 upcoming), five international airports, and 16 domestic airports.
He emphasised the state's strategic proximity to the National Capital Region, its vast consumer base, and a significant demographic dividend, with 56% of the population in the working-age group.
Awasthi also highlighted the UP Investment Promotion Policy 2023 for FDI/FCI, Fortune Global 500, and Fortune India 500 companies, which offers attractive incentives and subsidies to investors along with 33 investor-friendly sectoral policies.
Invest UP invited the Japanese delegation to explore investment prospects and experience Uttar Pradesh's cultural heritage, marking a key step in advancing India-Japan collaboration in the global pharma value chain....
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