Indian pharma eyes Russian market: Firms explore localised production; target to build largest API hub

Indian pharmaceutical companies are increasingly setting their sights on the Russian market, exploring opportunities to establish production facilities across various regions there. This development was highlighted by Sergey Cheremin, Moscow Government Minister and Head of the Department for External Economic and International Relations, during the “TIME: Russia-India. Mutual Efficiency” forum.Cheremin revealed that productive negotiations are currently underway with a Russian pharmaceutical company to establish joint production in India. He noted that Indian pharmaceutical firms are actively considering localization in different regions of Russia. “We hope that in the near future, Indian engineering enterprises and industrial groups will also turn their attention to the Russian market,” Cheremin stated in an exclusive comment to TV BRICS.He also mentioned a significant agreement under which Russia’s largest engineering holding will manufacture 120 new-generation railway trains in India. This move, he said, highlights the competitiveness of Russian engineering and demonstrates the country’s potential to succeed in Asian markets, as reported by TV BRICS.Taliya Minullina, head of the Tatarstan Investment Development Agency, stressed the importance of involving enterprises and sectoral bodies in implementing bilateral agreements, noting that this approach makes joint production particularly promising.Sammy Kotwani, President of the Indian Business Alliance, highlighted the complementary strengths of Russia and India. “Russia has natural and technological assets, while India offers a skilled workforce and expertise in key industries,” he said. Kotwani added that this synergy could enhance 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 center in Russia to ensure pharmaceutical self-sufficiency,” Kotwani added.The inaugural “TIME: Russia-India. Mutual Efficiency” Business Forum took place in Kazan on October 8-9, with informational support from TV BRICS, alongside the BRICS Global Media Tour organized by the network and Tatmedia.