Anand Sharma seeks greater market access for Indian pharma products in Russia

Anand Sharma, Union Minister of Commerce & Industry, Government of India, pressed for market access for Indian products, especially pharmaceuticals, in Russia during his meeting with Dmitry Rogozin, Deputy Prime Minister, Russia, according to a Press Information Bureau (PIB) release. Sharma’s visit, who is in St. Petersburg to attend the 7^th India Russia Forum on Trade and Investment, assumes significance in the light of Prime Minister Dr Manmohan Singh’s forthcoming visit to Russia next month.  
 
The Indian Minister asked for regulatory simplification for supply of Indian generic medicines to Russia. During the recently held 19^th India Russia Working Group on Trade and Economic Cooperation (IRWGTEC) meeting in Moscow, the India had requested Russia to examine the issues troubling the Indian pharmaceutical companies. Sharma said, “As Indian pharma companies are keen to establish manufacturing bases in Russia, it is imperative that Russian government should address their concerns in an expeditious manner.”
 
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In a renewed thrust to joint manufacturing in hi-tech areas, India and Russia have developed a framework for tracking key priority projects at the Ministerial level. The sectors covered under this Joint Understanding & Intention on Possible Plans and Priority Investment Projects for Enhancing Indo-Russian Economic & Investment Cooperation include automobile, industrial and road-building machinery, chemical & petrochemical industry, civil aircraft construction, fertilisers, pharmaceuticals, energy, diamonds, IT, automobiles, and agro & processed foods.
 
 
Sharma along with Russian Ministers reviewed the identified projects. Under petrochemical industry, both sides expressed satisfaction over the progress made by plant construction unit for manufacturing butyl rubber with capacity of 1,00,000 tonnes per year at the production site of Reliance Industries in Jamnagar in Gujarat. The new complex will be the biggest in India and one of the biggest in the world regarding butyl rubber production.
 
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In early 2010, SIBUR holding, a Russian petrochemical company and Reliance Industries signed a MoU regarding establishment of the joint venture for rubber production in India. Sharma and his counterpart expressed hope that the plant, the construction of which started in February 2013, will be operational by 2015 as per the schedule.