India, Russia to Sign Pact for Smoother Pharma Exports.

Mumbai, Nov 3 (PTI) India and Russia will sign a pact in December to make the pharma exports to Russia easier, a senior Indian government official said here. "India and Russia signed an MoU last year. Another will be signed in December," said Joint Secretary, Department of Pharmaceuticals, Devendra Chaudhry, while addressing Pharma Summit 20011, organised by Confederation of Indian Industry. Pharma sector accounts for the largest Indian export to Russia. Indian pharma companies export drugs worth USD 600 million to Russia every year. "The industry could come forward with workable models to help the government to set up infrastructure in Russia. We are also talking to Indian companies to set up testing facilities and infrastructure in Russia to get bigger market share in that country," Chaudhry said. He also stressed the urgent need for pharma industry and Government to partner. "There are 51 governmental institutions working in life sciences. It's a pity that there is no partnership between them and the private sector. The government needs to work harder towards forging models for relationships, and it can and is indeed willing to come forward, but the industry has to come together as an equal partner as well."

Source : ibnlive.in.com