India likely to replace West in Russian pharmaceutical market, Moscow claims
The withdrawal of many Western companies from the Russian market and those niches that have been vacated may actually be occupied by Indian companies in many industries, in particular, in pharmaceuticals: Russian envoy to India Denis Alipov
The Russian envoy to India Denis Alipov on Friday said that Indian pharmaceutical companies could replace the demand for Western companies in Russia.
The West has imposed several sanctions on Russia owing to Russia's invasion of Ukraine. The crisis started on 24 February, after Russian President Vladimir Putin announced a military offensive on the East European country.
However, earlier this month, Alipov had said that Moscow has welcomed the independent foreign policy of India amid the Russia-Ukraine conflict.
"The withdrawal of many Western companies from the Russian market and those niches that have been vacated may actually be occupied by Indian companies in many industries, in particular, in pharmaceuticals," Alipov told the Rossiya 24 broadcaster, as quoted by Sputnik news agency.
Alipov, who was newly appointed as the Russian envoy to India, said, India is a "world pharmacy" and a leading manufacturer of drug copies that are no worse than the original.
India's Vaccine Maitri initiative last year reinforced its credentials as the "pharmacy of the world". World leaders publicly commended India's efforts to rapidly expand vaccines production and supplies at critical junctures of the pandemic.
This decision to replace manufacturers in pharmaceutical comes at a time when Russia has been bombarded with sanctions from Western countries. Now Russia is looking to enhance economic engagement with countries non-European countries.
Touching upon the relations with India, Alipov said, "Prime Minister (Modi) and the Indian leadership meet the consistent independent policy of the state in international affairs. We have repeatedly stated that we have welcomed the independent foreign policy of India and strengthening its role and its influence in the international arena."
The Russian envoy also hailed the Indian foreign policy stand on the ongoing Russia-Ukraine conflict.
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First Published:18 Mar 2022, 10:24 PM IST
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