Indian firms look to localise pharma production in Russia

Moscow [Russia], October 17 (ANI): The Russian market is attracting growing interest from Indian pharmaceutical companies exploring opportunities to establish production facilities across various regions of the country. This was announced by Moscow Government Minister and Head of the Department for External Economic and International Relations, Sergey Cheremin, during the "TIME: Russia-India. Mutual Efficiency" forum.
"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," Cheremin said in an exclusive comment to TV BRICS.
He cited the example of a major agreement under which Russia's largest engineering holding will manufacture 120 new-generation railway trains in India -- a move he said confirms the competitiveness of Russian engineering and demonstrates the country's ability to succeed in Asian markets, as reported by TV BRICS.
Head of the Tatarstan Investment Development Agency, Taliya Minullina, emphasised the importance of involving enterprises and sectoral bodies in implementing bilateral agreements, highlighting that this approach makes joint production particularly promising.
Indian Business Alliance President Sammy Kotwani noted that Russia and India have complementary strengths. "Russia has natural and technological assets, while India offers a skilled workforce and expertise in key industries," he said, adding that this synergy could strengthen cooperation in pharmaceuticals, agriculture, textiles, renewable energy, and the creative industries.
"India supplies a significant share of generics and active pharmaceutical ingredients (API) to Russia, and we plan to establish the largest API production centre in Russia to ensure pharmaceutical self-sufficiency," Kotwani added.
The first "TIME: Russia-India. Mutual Efficiency" Business Forum was held in Kazan on October 8-9 with informational support from TV BRICS, alongside the BRICS Global Media Tour organised by the network and Tatmedia. (ANI)