Pfizer, Moderna, Serum & the indemnity issue; what is it and what it means for India? Foreign pharma majors, such as Pfizer and Moderna, have said that they will export their COVID-19 vaccines to India only if the deal is the Indian government and the company is guarded against legal cases for any severe side effects BusinessToday.In | June 3, 2021 | Updated 14:47 IST The indemnity clause is currently a thorny issue between the Centre and the foreign pharma majors, such as Pfizer and Moderna India is currently facing an acute shortage of COVID-19 vaccines with the Centre receiving brickbats for its vaccination policy, which fell short when the country was hit by a severe second wave of COVID-19 in March-April.