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Indian companies are considering localization of pharmaceutical production in Russia — Moscow Government

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Indian companies are considering localization of pharmaceutical production in Russia — Moscow Government
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At the TIME: Russia–India forum, Sergey Cheryomin said that Indian companies are considering the possibility of localizing pharmaceutical production in Russia. Moscow, in turn, sees India as an attractive investment destination.

Indian pharmaceutical companies are showing increasing interest in localizing production in Russia. This was announced by Sergey Cheryomin, Minister of the Moscow Government and Head of the Department of Foreign Economic and International Relations of the capital, at the TIME: Russia–India forum. Mutual efficiency" in Kazan.

According to him, negotiations are currently underway with a Russian pharmaceutical company to establish joint ventures in India, and Indian partners are actively exploring the possibilities of setting up production facilities in Russia. Cheryomin stressed that Moscow considers India as one of the key partners for investments and joint innovative projects.

The Minister cited an example of successful cooperation — the agreement between the Russian machine-building holding and the Indian side on the production of 120 new-generation railway trains, noting that this clearly demonstrates the competitiveness of Russian engineering and opens up prospects for other industries.

Taliya Minullina, Head of the Tatarstan Investment Development Agency, added that the further development of Russian-Indian projects requires the active participation of enterprises and relevant departments, which makes cooperation especially promising.

Sammy Kotwani, President of the Indian Business Alliance, noted that Russia and India have complementary economic opportunities: the former is rich in natural and technological resources, and the latter has qualified labor and experience in the pharmaceutical industry. According to him, the parties are already planning to create an Active pharmaceutical Ingredients Manufacturing Center (API), which will ensure Russia's pharmaceutical self-sufficiency.

The TIME Forum has become part of the BRICS GLOBAL MEDIA TOUR international program aimed at developing business and media ties between the countries of the association.

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