The Russian market is drawing the attention of Indian pharmaceutical companies considering the launch of production facilities in various regions of the country. This was announced by Moscow Government Minister, Head of the Department for External Economic and International Relations of the capital, and Chairman of Russia’s Business Council for Cooperation with India, Sergey Cheremin.
“At present, productive negotiations are underway with a Russian pharmaceutical company on the establishment of joint production in India. Indian pharmaceutical firms are actively exploring the possibility of localisation in different regions of the Russian Federation. We hope that in the near future Indian engineering enterprises and industrial groups will also turn their attention to the Russian market,” said Cheremin in an exclusive comment to TV BRICS at the forum “TIME: Russia – India. Mutual Efficiency”.
As an example of successful production localisation, he cited an agreement by Russia’s largest engineering holding for the manufacture of 120 new-generation railway trains in India. According to him, this confirms the competitiveness of Russian engineering and demonstrates that the country’s companies can operate successfully in the Asian market.
In turn, Head of the Tatarstan Investment Development Agency (TIDA) Taliya Minullina told the media network that for the effective implementation of agreements between Moscow and New Delhi, it is important to involve enterprises and sectoral bodies, which makes the development of joint production especially promising.
President of the Indian Business Alliance Sammy Kotwani also shared his views on deepening cooperation between the two countries. In a comment to TV BRICS, he noted that Russia and India possess complementary resources: Russia has natural and technological assets, while India offers a skilled workforce and expertise in key industries. This combination of potentials, he added, could not only strengthen the pharmaceutical, agro-industrial and textile sectors but also create new opportunities in renewable energy and the creative industries.
“India supplies a significant share of generics (cheaper equivalents of medicines with the same active ingredient – Ed.) and active pharmaceutical ingredients (API) to Russia, and we plan to establish the largest API production centre in Russia to ensure pharmaceutical self-sufficiency,” said Kotwani.
The 1st Business Forum “TIME: Russia – India. Mutual Efficiency” is being held in Kazan on 8–9 October with informational support from the TV BRICS International Media Network. Indian media executives have arrived in the capital of Tatarstan as part of the BRICS Global Media Tour, organised by TV BRICS together with the Republican Agency for Press and Mass Communications “Tatmedia”.
BRICS Global Media Tour is a regular in-house project of the media network for executives and leading experts of the media industry from BRICS+ countries. Its goal is to establish practical cooperation among media representatives at major international and all-Russian business events.
Photo: TV BRICS
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