Sources told Moneycontrol that COVID-19 vaccines would figure in the agenda of the Quad meeting scheduled on September 24. In the first in-person Quad summit, US President Joe Biden will host leaders of Quad member states Prime Minister Narendra Modi, Japanese Prime Minister Yoshihide Suga and Australian Prime Minister Scott Morrison.
The meeting is expected to end the stalemate over indemnity and other issues involving US drug makers. The Indian government has already announced that it would allow exports of vaccines from October as part of its commitment to COVAX.As part of the Quad Vaccine Partnership that was announced in the March virtual summit , US International Development Finance Corporation (DFC) has announced it would work with Indian manufacturer Biological E to finance increased capacity to support Biological E’s effort to produce at least 1 billion doses of COVID-19 vaccines by the end of 2022 with Stringent Regulatory Authorization (SRA) and/or World Health Organization (WHO) Emergency Use Listing, including Johnson & Johnson vaccines.But the progress has been slow due to issues around indemnity and restrictions on exports of COVID-19 vaccines to ensure India's vaccine demand is met before allowing exports.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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