12 February 2024 | News
Avenues for growth in the pharma & biotech sectors were discussed
Marisa Gerards, the Netherlands Ambassador in India, along with Head of Economic Affairs Joost Geijer and INBA H (India-Netherlands Business Association) Chairman Chakravarthi AVPS, held a productive meeting with the Chief Minister of Telangana Revant Reddy, Minister Komatireddy Venkata Reddy, Chief Secretary of the State Shanti Kumari, Spl Chief Secretary Ramakrishna Rao, and other officials to discuss the strong bilateral ties between the Netherlands and India.
The discussions primarily focused on exploring opportunities for Dutch investment in India, underscoring the favorable business environment in the country. Potential collaborations in the agriculture and water sectors were explored, including initiatives such as the Agricultural Centers of Excellence and the Musi River rejuvenation project. Additionally, avenues for growth in the Pharma & Biotech sectors were discussed.
Chakravarthi, who also chairs the Federation of Pharma Entrepreneurs, Telangana & Andhra Pradesh, highlighted the significant pharmaceutical exports from India to the Netherlands, amounting to approximately $600 million, with 70% comprising formulations. He mentioned a recent Memorandum of Intent (MoI) signed between the Central Drugs Standard Control Organisation (CDSCO) of India and the Ministry of Health, Welfare and Sport of the Netherlands. This MoI aims to establish a framework for cooperation and information exchange in the field of Medical Products Regulation, facilitating trade growth and fostering better collaboration between the two countries in the pharmaceutical sector.
The meeting between the Netherlands delegation and Telangana government officials signifies a step forward in strengthening economic ties and exploring avenues for mutual growth and cooperation between the two nations.