India-Japan Supercharge Pharma Ties: Goyal Pushes for R&D, Manufacturing Expansion

Union Commerce and Industry Minister Piyush Goyal is currently in Tokyo, leading India's largest-ever business delegation to Japan, where he held crucial talks with Toshiaki Nagasato, President and Representative Director of Meiji Seika Pharma. Their discussion zeroed in on significantly boosting India-Japan cooperation in the pharmaceutical sector, with a clear focus on expanding Meiji Seika Pharma manufacturing and research and development (R&D) presence in India. This high-level engagement highlights India's ambition to solidify its position as a global pharmaceutical hub, leveraging Japanese investment and technological expertise. The timing couldn't be more strategic, with India actively promoting its 'Make in India' initiative and robust Production-Linked Incentive (PLI) scheme to attract foreign investment in critical sectors like pharmaceuticals. India, already known as the 'Pharmacy of the World,' is a major global supplier of generic drugs and vaccines, and is now keenly pushing for innovation-led growth, particularly in biopharmaceuticals and complex generics. This push is further backed by initiatives like the ₹10,000 crore 'Biopharma SHAKTI' program announced in the Union Budget 2026-27 to strengthen biopharma R&D and manufacturing. A concrete example of this deepening collaboration is Meiji Seika Pharma ongoing partnership with Serum Institute of India to develop and manufacture a Japanese encephalitis vaccine in Pune, showcasing a practical model for technology transfer and large-scale, affordable production. Looking ahead, Goyal's visit, part of a broader four-day tour from August 24-27, is expected to pave the way for more 'Suzuki-like' success stories, referring to the Japanese automaker's significant operations in India. The enhanced pharma collaboration is set to focus on not just manufacturing, but also on co-production, technology transfer, and greater R&D. This push aims to diversify global supply chains, reduce India's reliance on Active Pharmaceutical Ingredients (APIs) imports, and offer Japanese companies a massive, cost-effective base for global operations, ultimately benefiting healthcare access and affordability worldwide.