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21 Nov, 2019 13:58

Moscow Region officials and Indian pharma companies discuss cooperation in Mumbai

The second and final stop of Moscow Region roadshow in India on November 12-15 has been in Mumbai, a lively business hub and headquarters for many Indian pharmaceutical companies.
Moscow Region officials and Indian pharma companies discuss cooperation in Mumbai

Headed by Vadim Khromov, Deputy Chairman of the Government of Moscow Region, the Russian delegation held a roundtable discussion with representatives of Indian pharma industry on November 15 and told them about the unique potential and support measures that open a “window of opportunity” to prospective investors on the Russian market.

“In Mumbai, we focus on pharmaceutical companies, many of which are located here,” said Vadim Khromov, Deputy Chairman of the Government of Moscow Region. “We discussed issues and opportunities of the Russian market for the localization of products. We brought with us statistical information on the procurement of foreign pharmaceuticals by government agencies, which are not localized in the Russian Federation. This caused quite a lively interest among our Indian colleagues.”

Over the last five years, the volume of pharmaceutical production in the region has grown three times and today more than 15 large companies operate in Moscow Region, officials said. The development of the pharmaceutical industry in Moscow Region is also affected by the presence of a medical and technical cluster in Dubna and the biotechnological cluster created in Pushchino. This makes the region one of the leaders in the production of pharmaceutical products and the most dynamically developing market in Russia.

“This is due to several advantages: the close proximity of the largest sales market in Russia, the availability of prepared sites for business development, high scientific and personnel potential, benefits and compensation for the construction of engineering infrastructure for investors,” Vadim Khromov pointed out.

Some Indian pharmaceutical companies are already present in Moscow Region. One of them is PSK Pharma, a pharmaceutical company with Indian capital engaged in the development and production of genetically engineered biological products and innovative drugs for targeted therapy of severe socially significant diseases. Moreover, JodasExpoim LLC plans to launch a plant for the production of pharmaceutical substances in the urban district of Voskresensk by 2021.

“The participants of the round table in Mumbai appreciated the proposal of Moscow Region and expressed a desire to personally visit the region to get acquainted with our business sites and conditions for supporting investors,” shared Vadim Khromov adding that more than 170 representatives of Indian business participated in the roadshow in New Delhi and Mumbai.

Some of the negotiations were held behind-the-scenes, but Yaroslav Tarasyuk, Trade Representative of the Russian Federation in India, reveals that the talks with prospective Indian partners were interesting and promising. “I think that the leadership that Moscow Region holds in (the production of) pharmaceuticals will be expanded with new projects,” he concludes.