22-Aug-2017: ICMR signs MOU to promote vaccine development

The Indian Council of Medical Research (ICMR) has signed an MoU with the International Vaccine Institute (IVI) for collaborating on vaccine research and development. India will commit $5,00,000 (₹3.20 crore) annually for a stake in IVI.

IVI has been partnering with Indian vaccine manufacturers, research institutes, government, and public health agencies on vaccine development, research, and training.

IVI Director General Dr. Jerome H. Kim said the MoU was a step towards providing affordable vaccines across the globe. India is a vaccine industry powerhouse that supplies 60% of the world’s vaccines. The signing of the MoU is a continuation of IVI's partnership with India to provide safe, effective and affordable vaccines for people around the world.

18-Jan-2017: Cabinet approves India’s Membership in the International Vaccine Institute (IVI), South Korea

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the proposal for India’s taking full membership of the International Vaccine Institute (IVI) Governing Council. The move involves payment of annual contribution of US $ 5,00,000 to the International Vaccine Institute (IVI), Seoul, South Korea.

Background

International Vaccine Institute (IVI), Seoul, South Korea, established in 1997 on the initiatives of the UNDP, is an international organization devoted to developing and introducing new and improved vaccines to protect the people, especially children, against deadly infectious diseases. In the year 2007, with the approval of Cabinet, India joined IVI. India is a long-term collaborator and stake-holder of IVI. In December, 2012 the Board of Trustees (BOT) of IVI approved the formation of its new governance structure. As per the new governance structure of IVI, a member State has to contribute to the IVI by paying a portion of its core budget. Since India is classified in Group-I, it has to pay an annual contribution of US $ 5,00,000.