India hopes for drug boom in FTA with Japan

India's pharmaceutical industry could benefit from a free trade agreement with the Association of South East Asia Nations, with additional deals under discussion. GK Pillai, the Commerce Secretary told reporters that "we will try to conclude free trade agreements with Japan and [South] Korea this year." A target of $20.0 billion in trade between Japan and India is the goal in 2010, up from $8.5 billion in 2006. India's drugmakers only have $200.0 million sales per year to Japan, out of a pharmaceutical market of $64.4 billion (Marketletter September 22).