Friends

Xin Chao, Namaskar and good afternoon to all of you,

This year is special. We celebrate ten years of our Comprehensive Strategic Partnership (CSP). Today’s Meet is the first of the series of thematic events which the Embassy and its partners intend to organise as we celebrate this special year.

Why have we choosen Pharmaceuticals as the first theme. The answer is very simple. Pharma touches people… it affects the common man. It has the power to make our lives better and living meaningful. It is also an area where both of us, India and Viet Nam, have so much to share, learn and give.

I am not a pharma expert like all of you. I am just a diplomat to build bridges. Let me begin by sharing some facts on the Indian pharma industry:

First, India is the largest provider of generic medicines globally. India supplies 40% of generic medicines to the US and 25% of all medicines to the UK. 20% in global supply volume. 8 out of 20 global generic companies are from India. 

Second, India contributes 60% of global vaccines. World leader in vaccines like DPT, BCG and Measles. 65-70% of vaccines for World Health Organisation is sourced from India.

Third, for those friends who are not aware, India hosts the highest number of USFDA compliant pharma plants outside the US and over 2000 WHO GMP approved facilities catering to 150+ countries with its 10,500 manufacturing units.  India has the largest USFDA market authorisation for formulation companies.  

Fourth, 55% of exports from India go to highly regulated markets, specially in North America and Europe. In FY 2025, exports of drugs and pharma stood at USD 30.4 billion, growing by almost 10%. US accounted for alone 35% of our exports in this sector.

Fifth, Indian pharma sector is expected to grow by 7-9% in 2026 due to domestic demand and steady expansion in Europe.

And sixth, health care in India is one of the largest sector both in revenue and employment. Our large pool of well trained medical professionals, quality and affordable medical services and a hub for R&D give us competitive advantages. Indian healthcare market is, please do correct me, around USD 638 billion. India is the “Pharmacy of the world” for its high quality and affordable price impacting the common man.

It's been around five months since my arrival here. I have heard a lot on pharma. INCHAM Chairman Mr Navendu, Mr JiJi George, Mr Sriram, Mr Vaibhav Saxena and many others have tried to educate me on pharma. I must admit I have been a bad student and am still learning. 

So friends, allow me to speak my mind on our pharma collaboration. If I say something wrong, please give me the benefit as my ignorance. 

First, I am told that we continue to remain at the sixth position in terms of total exports in pharma to Viet Nam even though we are the largest in volume. This has been constant for the last few years. I wonder why Indian companies are not able to go beyond. Specially when I see so many Indian medical firms present in this room. Given our pharma strength, geographical proximity and our close relationship. I wonder if Indian companies are not working hard, doing something wrong, happy with what we have or is the public procurement system of Viet Nam not balanced. 

Second, again I learn that most Indian companies are in Category 2 in the public procurement system mainly in generic drugs. Please do correct me if I am wrong. I am told Indian companies do not confirm to Stringent Regulatory Authority (SRA) approvals for doing business in Category 1. With innovation as the hallmark of Indian pharma and exporting all over Europe and West, I am a bit confused. 

Third, on  a happy note, in this digital age, our officials in India have designed an online portal for verification of documents which will also contain a QR Code incorporating the COPP. This will save time and enable ease of business. We hope to have it functional soon.

Fourth, we will be proposing to our Vietnamese friends to host the next Joint Working Group on Health in June in Hanoi. Policy makers must meet regularly. Given major policy changes here in Viet Nam, this will be useful. 

And fifth, I am happy to convey that India-Viet Nam regulatory agencies have agreed to a MoU in the field of medical products regulation which will help in the ease of business. 

What is the way ahead for India-Viet Nam pharma journey. Let me give you some of my thoughts:

1. First, we understand the regulatory efforts by Viet Nam to strengthen its pharma sector to ensure affordable medicines and supply security. In this, India can be a valued partner. We have gone the same road and understand your requirements.
   
   
2. Second, India remains a reliable partner to Viet Nam. Resilient supply of affordable and quality medicines, technological cooperation, AQI supply chains supporting manufacturing and capacity building will the hallmark of our future partnership. 
   
   
3. Third, With Viet Nam’s new policies encouraging ‘Make in Viet Nam’ and strong regulatory governance, Indian firms can look at JVs, technology partnerships and contract manufacturing. 
   
   
4.  Fourth, collaboration in regulatory practices.
   
   
5. Fifth, Viet Nam will continue to remain a vital market for India in this region. Generic medicines will continue to remain central. 

I think I should stop here and let the real experts speak. You are aware that if you give a diplomat a mike and stage, there is no ending. I am eagerly looking forward to hearing your interventions over the next two hours. 

My appreciation to my Embassy team led by Counsellor Chinpau. A warm thank you to INCHAM and Chairman Navendu, Ministry of Health of Vietnam, Viet Nam Pharmaceutical Companies Association, Viet Nam Private Hospital Association, Viet Nam Medical Equipment Association  and all of you Vietnamese friends for coming today.

In conclusion, a heartfelt gratitude to all my Indian friends who have come here, including the panellists and many from Ho Chi Minh City. You are our strength and your presence means a lot. You represent an important element of our friendship with Viet Nam. Your business will be one of the determinants of our future bilateral trade and perhaps the most far reaching affecting lives.  Your products will continue to be most visible.  There is much more you can and should achieve in Viet Nam along with your Vietnamese friends. Do India proud and do Viet Nam proud. 

Jai Hind

Thank You

Xin Cam on

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