Representatives of Moscow industry discussed localization of production with Indian Pharmexcil

MOSCOW, September 9 – RIA Novosti. Representatives of the capital's industry held negotiations with the Council for Promotion of the Export of Pharmaceutical Products of India (Pharmexcil), during which they presented the investment and infrastructure potential of the Technopolis Moscow special economic zone (SEZ) and discussed the possibilities of locating production facilities in Moscow, said Advisor to the Minister of the City Government Polina Pavlova.

The negotiations included board leadership: Chairman Namit Joshi, CEO Raja Banu, and directors Kamal Bhardwaj and John Rollin.

“Moscow is a national center for the production of pharmaceutical and medical products. The flagship for the development of advanced solutions in these industries is the special economic zone Technopolis Moscow. At a meeting with colleagues from the Council for Promotion of the Export of Pharmaceutical Products of India, they presented the infrastructure and investment potential of the SEZ, in particular the Alabushevo site, where the most powerful industry cluster is being formed in the country. Today it unites 14 leading enterprises - they create unique high-tech solutions that are in demand throughout country,” the press service of the Department of Investment and Industrial Policy quotes Pavlova as saying.

She noted that the Indian side has shown interest in entering the Russian market by localizing manufacturers in Moscow. In addition, representatives of the council hope to create joint educational initiatives, including training and internships for students to develop the human resources potential of the pharmaceutical industry.

During the meeting, Indian colleagues were told about different SEZ sites where greenfield and brownfield projects are available for implementation. In the first case, we are talking about the construction of new high-tech production facilities, and in the second, about the placement of modern companies in ready-made infrastructure in a special economic zone.

The press service clarified that companies with resident status have access to a wide range of preferences. For example, they are exempt from paying property, transport and land taxes for a period of 10 years, and the income tax rate will be reduced by 12.5 times - to 2%.

In addition, the capital’s delegates drew attention to the one-window regime for foreign investors. As a result, the meeting participants agreed to continue negotiations on mutually beneficial cooperation and the implementation of joint projects in Moscow.

The Indian Pharmaceutical Export Promotion Council has been set up by the regional ministry of commerce and industry. The organization promotes pharmaceutical and medical products: from substances and finished dosage forms to diagnostic equipment. The Council also helps local exporters find foreign partners and promotes the localization of production of local companies abroad.

Also in New Delhi, from September 7 to 9, an industry exhibition is being held, where the solutions of enterprises in the capital’s medical industry are presented at the collective stand “Made in Moscow”.