Indian Pharma Firms Gain Export Opportunity in Russia's Penza Region

Indian companies can export pharmaceutical products to Penza region of Russia as many European pharma suppliers have exited the market.

“Indian companies can export pharmaceutical products to the Penza region as many European pharma suppliers have exited our market. Also, our region imports lot of food packaging materials from China and hence there is scope for Indian suppliers to explore our market in these products,” said Khakimov Almaz Khamitovich, Deputy Prime Minister of the Government of the Penza region, who was in Mumbai to promote trade and investment between India and the Penza region.

Explaining the economic and geographic advantage of Penza region, Khamitovich mentioned, “Penza is located in the European middle part of Russia and all the major cities are within the 500 km radius, with the capital city Moscow reachable in one hour by flight. The region has advanced research & development, manufacturing base, especially in mechanical engineering, metal working, instrumentation, cotton processing, paper and so on. The region boasts of some of the leading companies in Europe in confectionery, poultry, furniture, precision instruments and other sectors.”Speaking at an interactive session organised by the World Trade Center, Khamitovich remarked: “India is the 8th largest source of imports for Penza region and the objective of our visit is to improve this ranking in the coming years.”