The initiative is part of the joint statement issued by Prime Minister Narendra Modi and Japanese Premier Shinzo Abe, during the former's visit to Japan to enhance cooperation in the field of medical devices.
Both the institutions, as per the agreement, will also be involved in collaborative research.
"The primary objective of this collaboration is to develop novel instruments for surgical needs and affordable medical devices for universal health coverage (UHC). Both the parties will be involved in collaborative research and development of medical devices which will be of the highest quality and at the same time affordable and will address the needs of surgical fraternity.
Mishra stressed that the project will help India adopt the technology from Japan and manufacture the medical devices in the country focusing on Prime minister Modi's "Make in India campaign".
Speaking on the occasion Kiyokazu Nakajima, Professor Osaka University said, "Doctors and researchers from both the nation will visit each other's country to identify the true clinical needs and collaboratively develop affordable devices with appropriate performance."
The project has been designed to encourage mutual cooperation, exchange visits, technology update and capacity building, stated Japanese Ambassador to India, Takeshi Yagi.
India currently imports 75 percent of the surgical devices from the medically advanced nations.
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