Representatives of Russian and Indian pharmaceutical industries outline new vectors of cooperation

The India-Russia Pharmaceutical Business Meeting was held in Moscow. Entrepreneurs of both countries gathered in the Russian capital to get acquainted and outline new vectors of bilateral cooperation.

Gina Uika, Deputy Ambassador of the Republic of India to the Russian Federation, said the meeting gave a new impetus to the interaction and development of pharmaceuticals between the two countries.

"We are working closely with the Russian government on production, delivery and certification of medicines," she said.

The Indian delegation included representatives from 54 pharmaceutical companies in the country. The manufacturers are involved in prescription, bulk, herbal, ayurvedic medicines and medical services. In Russia, the share of Indian medicines is among the top ten most demanded.

In 2022, sales of medicines from India increased by 3 per cent to about 7.5 million packs. In value terms, imports increased by 17 per cent to 10 billion roubles.

"At the conclave in India, we introduced the idea of creating a global association of pharmaceutical inspectorates, which would provide an opportunity to discuss regulatory issues, share experiences and build trust in good practices. Seventeen countries have now joined the working group to set up the global association, including regulators from Cuba, Jordan, Nicaragua, Bahrain, the EEU countries and many others," said Natalia Chadova, Head of the Inspections Department for Pharmaceutical Manufacturing at the FSI "SID & GP" and Expertise of GILSiNP, Russian Ministry of Industry and Trade.

The participants also discussed the supply of animal feed and medicines, as well as anti-monopoly policy in the field of medical services to improve and facilitate interaction between business representatives.

"Such meetings give entrepreneurs an opportunity to get to know each other and present their products. We can find out which medications are already available in Russia and which are not. This creates a good opportunity for business and production development - we will work in this direction," said Ravi Uday Bhaskar, Director General, Pharmaceuticals Export Promotion Council of India

The meeting was organised by the Pharmaceutical Export Promotion Council of India and the Embassy of the Republic of India in the Russian Federation.

Photo: TV BRICS