New Shared Growth Points for Russia and India
The first meeting between the management of the Roscongress Foundation and representatives of the Indian pharmaceutical business community was held in Moscow with the support of the Indian Business Alliance. The parties discussed new opportunities and cooperation formats, as well as opportunities for Indian pharmaceutical business to present their projects and participate in international economic forums taking place both in Russia and around the world.
“The Republic of India is a strategic partner of Russia. The Roscongress Foundation provides comprehensive assistance to representatives of the Indian business community. It is evidenced both by the fact that the Indian business continues to participate in the events organized by the Foundation, as well as by the agreement signed with the India Trade Promotion Organization (ITPO). I am confident that the new partners in the pharmaceutical industry will successfully continue the partnership between the two countries in this area. Moreover, our specialized Healthy Life division will provide communication and consulting assistance for the development of business projects,” said Alexander Stuglev, Chairman and CEO of the Roscongress Foundation.
During the meeting, the representatives of Indian pharmaceutical companies focused on the need for support and assistance in expediting product registration time in Russia, as well as assistance from the Roscongress Foundation in organizing meetings with relevant committees and commissions of the State Duma of the Russian Federation and major players in the Russian market. The heads of various companies stressed that the transition from simple commodity supplies to more complex cooperation and localization of production, which in turn will help the emergence of new points of growth, is an extremely important area of cooperation between the two countries. In addition, the parties noted that this process should be launched bilaterally, exclusively in competitive industries.
“I see a good basis here for deepening bilateral investment ties. And I am convinced that by working together, our entrepreneurs will be able to create new products with high added value, build production chains, and subsequently promote their goods and services in the markets of third countries,” stressed Sammy (Manoj) Kotwani, head of the Indian Business Alliance.
The meeting was attended by leaders of more than 20 Indian business companies. All of them expressed an interest in participating as partners in the Eastern Economic Forum in Vladivostok (5–8 September 2022) and the Russian Investment Forum in Sochi in February 2023. The opening days for both forums traditionally hold Healthy Life and Drug Security events – specialized platforms that provide an opportunity to discuss relevant health issues and to present advanced solutions in the medical field.