Thought Leadership Series: Indonesia-India Health Business Forum

Event Report: Indonesia – India Health Business Forum, 27 February 2024

The Indonesia – India Health Business Forum held on 27 February 2024 marked a significant milestone in the healthcare cooperation between Indonesia and India. The forum, attended by dignitaries, government officials, and industry representatives from both countries, was a comprehensive dialogue aimed at bolstering trade, investment, and partnerships in the pharmaceutical and healthcare sectors.

Welcome and Opening Remarks

The forum commenced with warm welcomes from Ambassador Sandeep Chakravorty and H.E. Ms. Lucia Rizka Andalusia, Director General of Pharmaceutical and Medical Devices, MoH RI, setting a collaborative tone for the day. The emphasis on traditional medicine and the vast pharmaceutical markets of both nations underscored the mutual benefits of enhanced economic engagement in healthcare.

Sessions Overview

Session 1: Strengthening Pharmaceutical and Healthcare Ecosystems

In a detailed exploration of the pharmaceutical landscapes, speakers from both countries shared insights into their respective healthcare systems, pharmaceutical manufacturing capabilities, and regulatory environments. Notable presentations included:

• An overview of Indonesia’s pharmaceutical manufacturers and health transformation initiatives by Roy Himawan S.Farm., Apt., M.K.M, Director of Pharmaceutical and Medical Devices Resilience, MoH RI.
• Mr. Ravi Dadhich CEO, PMBI, MoH, India’s discussion on India’s Jan Aushadhi scheme.
• Remarks by Mr. Ferry Akbar Pasaribu, Assistant Deputy for Investment Acceleration Strategy and Policy at the Coordinating Ministry for Maritime and Investment Affairs, emphasized the Indonesian government’s commitment to strengthening collaboration with India in the pharmaceutical sector.
• Pharmaceutical Regulatory (Registration) System in Indonesia by Ms. Ria Christine Siagian, Director for Drug Registration, Indonesian FDA
• Insights into investment opportunities in the healthcare sector presented by Mr. Cahyo Purnomo, Director of Investment Promotion for East Asia, South Asia, Middle East and Africa, Indonesia Investment Coordinating Board (BKPM).

Session 2: Opportunities for Collaboration

The second session highlighted the potential for cooperation in pharmaceutical manufacturing, particularly in APIs and finished formulations. Discussions led by Mr. Sandeep Sur of Hetero Pharma and representatives from Indonesian pharmaceutical companies painted a picture of a vibrant future with increased collaboration in drug development, vaccine production, and medical devices.

Key Takeaways and Action Items

1. Recognition and Promotion of Traditional Medicine: Both countries acknowledged the need to work together in bringing traditional medicine to a global audience, leveraging India’s vast experience and Indonesia’s rich heritage in natural remedies.
2. Enhancing Supply Chains: India’s role as a major supplier of raw materials and cost-effective medicines was recognized as crucial for Indonesia’s healthcare system, with a call to increase these supplies and share expertise in generic medicine production.
3. Regulatory Cooperation: The need for streamlined regulatory frameworks to facilitate easier market access for pharmaceuticals and medical devices was highlighted, with specific mention of Indonesia’s efforts to reform its pharmaceutical regulatory system.
4. Investment and Expansion Challenges: Indian companies shared their challenges in expanding operations in Indonesia, particularly concerning policy changes and local supply requirements. There was a collective commitment to address these challenges to aid future investments.
5. Feasibility Studies and Investment Support: Both nations agreed to collaborate on conducting feasibility studies for new projects in the pharmaceutical and healthcare sectors, with Indonesia pledging full support to Indian firms throughout the investment process.

The forum concluded with a commitment to strengthen the healthcare partnership between Indonesia and India. The interactive networking session provided a valuable opportunity for direct dialogue and laid the groundwork for future collaborations.

The Indonesia – India Health Business Forum not only highlighted the current successes and challenges in healthcare cooperation but also charted a course for deepening bilateral relations in pharmaceuticals and medical technology. With clear action items and a shared vision for progress, the event stands as a beacon of international collaboration, promising enhanced health resilience and economic growth for both nations.