The Russian market is witnessing rising interest from Indian pharmaceutical firms eager to establish production facilities across multiple regions of Russia. This growing engagement was highlighted by Moscow Government Minister and Head of the Department for External Economic and International Relations, Sergey Cheremin, during the “TIME: Russia–India. Mutual Efficiency” business forum.

Cheremin revealed that active negotiations are progressing between Indian companies and Russian pharmaceutical enterprises for joint production partnerships. He noted that these talks could soon lead to the establishment of localised pharma manufacturing in Russia, a step that aligns with both nations’ efforts to strengthen industrial self-reliance and deepen trade cooperation.

While the pharma sector is emerging as a focal point, Cheremin also emphasised that Indian engineering and industrial enterprises are being encouraged to expand their presence in the Russian market. He cited a landmark example of a major agreement under which Russia’s largest engineering holding is set to manufacture 120 next-generation railway trains in India—a reflection of mutual trust and Russia’s growing industrial competitiveness in Asia.

Head of the Tatarstan Investment Development Agency, Taliya Minullina, underscored the importance of involving regional enterprises, investment bodies, and sectoral organisations in implementing bilateral production projects. She argued that local participation ensures that joint ventures operate efficiently and deliver sustainable outcomes within both countries.

India Business Alliance President Sammy Kotwani described the Russia–India partnership as deeply complementary. He pointed out that Russia brings abundant natural resources and technological expertise, while India contributes its skilled workforce, production capacity, and innovation in key sectors.

This combination, Kotwani said, could form the foundation for joint growth in pharmaceuticals, agriculture, textiles, renewable energy, and creative industries.

Kotwani further disclosed plans to set up a major Active Pharmaceutical Ingredient (API) production centre in Russia. This project aims to enhance the country’s pharmaceutical self-sufficiency while leveraging India’s dominance in generic drugs and formulation manufacturing. India currently supplies a substantial portion of Russia’s generic medicines and APIs, underscoring a strong interdependence that the proposed facility would formalise and expand.

The “TIME: Russia–India. Mutual Efficiency” forum held in Kazan on October 8–9 served as a major platform for policy discussions and business matchmaking. Organised with the support of TV BRICS and the BRICS Global Media Tour in coordination with Tatmedia, the event brought together government officials, industrial leaders, and investors committed to advancing bilateral economic projects under the broader BRICS cooperation framework.

Based On ANI Report