Cabinet approves healthcare deals with Indonesia and Cuba

While the agreement with Indonesia is in relation to pharmaceutical products, pharmaceutical substances, biological product and cosmetics regulatory, the one with Cuba relates to the field of traditional medicine and homeopathy

July 20, 2018

The deal signed with Indonesia on May 29th concerns India’s Central Drugs Standard Control Organization (CDSCO) and Indonesia’s National Agency for Drug and Food Control (BPOM)

The deal with Indonesia, which follows a similar partnership reached in railways last month, will help boost bilateral trade that was recorded at US$20.4 billion during financial year 2017-18

The deal between India and Cuba was signed on June 22 and concerns medicinal practices under the aegis of Ayurveda, Yoga and Naturopathy, Unani, Siddha, Sowa Rigpa and Homoeopathy

India, the second largest exporter of Ayurvedic and alternative medicine in the world, hosts a market of over US$15.6 billion and has taken measures to improve related regulatory measures

The Union Cabinet, chaired by the Prime Minister Narendra Modi, on July 18 approved a preliminary agreement each with Cuba and Indonesia related to the field of healthcare. While the agreement with Indonesia is in relation to cooperation in pharmaceutical products, pharmaceutical substances, biological product and cosmetics regulations, the one with Cuba relates to the field of traditional medicine and homeopathy. The partnerships will allow sharing of finances and resources to boost future research and development in the healthcare space. The deal signed with Indonesia on May 29th concerns India’s Central Drugs Standard Control Organization (CDSCO) and Indonesia’s National Agency for Drug and Food Control (BPOM). Meanwhile, the deal between India and Cuba was signed on June 22.

The agreement with Indonesia is expected to forge better understanding about the respective nation’s regulatory requirements. It could also facilitate India’s export of pharmaceutical products to the Southeast Asian neighbor. The deal will also establish a framework for exchange of information in matters relating to pharmaceutical products regulation. The CDSCO is a Subordinate Office of the Directorate General of Health Services, which is an attached office of the Department of Health and Family Welfare and is the National Regulatory Authority for drugs, medical devices and cosmetics in India. The BPOM regulates these products in Indonesia. The deal, which follows a similar partnership in railways last month, will help boost bilateral trade that was recorded at US$20.4 billion during 2017-18.

The agreement with Cuba will enhance bilateral cooperation between the two countries in the areas of traditional systems of medicine and homeopathy. The traditional systems of medicine in India are well organized, codified and well documented comprised of Ayurveda, Yoga and Naturopathy, Unani, Siddha, Sowa Rigpa and Homoeopathy (AYUSH). Government of India has taken steps by entering into deal with as many as 10 countries for cooperation in the field of traditional medicine. The Government has also published an pharmacopoeia for alternative medicine to bring the sector at par with conventional medicine in terms of regulations, safety standards and best practices. India is the second largest exporter of Ayurvedic and alternative medicine in the world and hosts a market of more than US$15.6 billion.