New Delhi: After several Western sanctions were imposed against Russia due to the Ukraine invasion, Indian pharmaceutical companies may replace Western manufacturers in the Russian market, said Russian envoy to India Denis Alipov on Friday. This news comes after reports of western pharma companies shutting down operations in Russia.
“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,” told Alipov to Rossiya 24 broadcaster, as cited by Sputnik news agency according to the ANI report.
The newly appointed Russian envoy added that India is a “world pharmacy” and a leading manufacturer of drug copies that are no worse than the original, according to the report.
This comes on the back of the success of India’s Vaccine Maitri initiative last year that helped in reinforcing its credentials as the “pharmacy of the world”. Global leaders have praised India’s efforts in ensuring rapid expansion of vaccines production and supplies at critical stage of the pandemic.
Now, Russia is looking to enhance economic engagement with non-European countries as the Western sanctions have impacted Russian economy in several ways.
Earlier, Alipov had said that Moscow has welcomed the independent foreign policy of India amid the Russia-Ukraine conflict.
Commenting 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.”