Vikram Punia, President of the Pharmasyntez Group of Companies, took part in the session "Russia and India: exploring new horizons of partnership", where he outlined the strategic prospects for the joint projects for the production of pharmaceutical substances, where Indian pharmaceutical companies have extensive experience and the necessary expertise.
The session was organized by the Department for External Economic and International Relations of Moscow under the guidance of Mr. Sergey Cheremin, Minister of Moscow Government together with the Business Council for Cooperation with India, co-chaired by Mr. Vikram Punia. During the session the issues of industry-specific reorientation of cooperation, new mechanisms for mutual settlements and alternative logistical itineraries, as well as suggestions and initiatives of the business community, which require prompt elaboration by the authorities of both countries, were discussed.
"During the last 10 years more than 5 billion dollars have been invested in the Russian pharmaceutical industry and about 50 new pharmaceutical plants have been built. Our group has invested over 15 billion rubles in the last 5 years and is planning to invest up to 700 mln euros in the next 10-15 years in the development of our production infrastructure. Moreover, most of this money will be used to create new manufacturing facilities for pharmaceutical substances. We are inviting Indian pharmaceutical companies to implement joint projects in an area where they have extensive experience and the necessary expertise. This is the production of pharmaceutical substances. The Russian government is creating all the necessary conditions for this kind of investment project. The Russian government has a large package of state support measures. I think there is a unique "window of opportunity" for Indian pharmaceutical companies right now. However, this "window of opportunity" may close in 2-3 years when major investors have already been identified.
Of course, there are other areas for cooperation between Russian and Indian pharmaceutical companies, but I find the opportunity to join forces specifically in the production of pharmaceutical substances the most interesting", said Vikram Punia.