The Indian mission here has discussed a strategy with leading life sciences cluster Dubiotech to encourage and educate investors from India about the potential of the UAE's thriving biotech sector.
"Economic and cultural links between the UAE with India date back more than a century and today trade between our two countries is worth in excess of USD 44 billion.
"I have seen a wealth of interest from Indian life science companies and potential investors in coming to Dubai to explore the possibilities. I look forward to assisting in their endeavours where I can," said Sanjay Verma, Consul General of India in Dubai.
A free zone dedicated to facilitating and fostering the growth of the life sciences industry in Dubai is part of the the UAE government's ambition to increase the amount of medicines manufactured locally.
Marwan Abdulaziz, Executive Director of DuBiotech, met Verma to discuss the strategy.
"Strengthening our partnership with India is an integral part of DuBiotech's strategy to build and stimulate the UAE's life science industry...," said Abdulaziz.
The Gulf Cooperation Council countries have the highest levels of imported medicines in the world and the UAE alone imports 80 per cent of the drugs consumed by its population.
In 2012, DuBiotech witnessed exceptional growth, issuing 40 commercial licences in comparison to 21 in 2011.
DuBiotech offers organisations based in the free zone, services in regulatory affairs management, partnership development, registration and licensing, leasing and government services to help both start-ups and international firms set up and achieve their respective commercial targets.
