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Iran wants investments into Indian pharma sector driven by 100% FDI

Both Iran and India have been engaged in strong trade ties to export and import drugs. We need to further expand our presence. The pharma sector in Iran is looking for joint ventures with Indian drug manufacturers. The two countries are known for its excellence in pharmaceuticals and its qualified pool of personnel.
“Currently, I
ndia is doing good business in Iran. The country is most sought for its formulation and bulk actives. Iran sees Indian pharma as vibrant sector on the move. The drug manufacturing industry in Iran sets tough standards for approval and it is extremely difficult to meet some of the stringent norms.
The 100 per cent FDI announcement from the government of India will now give an opportunity for pharma industry in Iran to look at strategic investment in India. This should be reciprocated by the Indian pharma who could also set up production facilities in the region to make the most of the demand from Iran industry, he added.
Iran logged $15 billion during 2012-13 , target is to cross $20 billion.

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1/28/2014 12:22:46 PM