Covid-19 crisis prompts India to look for global partners in health care

Medical devices industry has potential to attract Rs 70,000 crore in 5 years

As India shifts its focus to the pharmaceutical and medical devices industries amid the Covid-19 pandemic, it is actively reaching out to several countries, including Japan, seeking to attract investments in manufacturing and joint venture projects, according to officials and industry executives.

India sees an investment potential ofRs 70,000 crore in the medical devices industry alone over the next five years.

The government is targeting 1,200 technical collaborations between Japanese companies and Indian investors for over 42,000 crore, 200 joint ventures with overseas investors forRs 14,000 crore, and another 14,000-crore investment from about 50 multinational companies.

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