Historic Milestone: First Indo-Uzbek Pharma Business Forum in Hyderabad Boosts Trade and Investment

Historic Milestone: First Indo-Uzbek Pharma Business Forum in Hyderabad Boosts Trade and Investment

The First Indo-Uzbek Pharma Business Forum was successfully held in Hyderabad, Telangana, focusing on trade and investment opportunities in the pharmaceutical sector between India and Uzbekistan. This landmark event was jointly organized by the Embassy of Uzbekistan in New Delhi, the Pharmaceutical Industry Development Agency of Uzbekistan, and Neo Institute of Medical Sciences and Technology Ltd., bringing together high-level representatives and industry leaders from both nations.

The forum featured an address by HE Mr. Sardor M. Rustambaev, Ambassador of the Republic of Uzbekistan to India, who highlighted the importance of strengthening ties between India and Uzbekistan, especially in the pharmaceutical sector. Distinguished participants included Mr. Abdulla Azizov, Director of the Pharmaceutical Industry Development Agency of Uzbekistan, who delivered a very interactive PowerPoint presentation covering the current landscape and future prospects of the pharmaceutical industry in Uzbekistan. Dr. Divya Raj, Indian Representative of the Ministry of Health of the Republic of Uzbekistan and Managing Director of Neo Institute of Medical Sciences and Technology; Dr. Divya Raj emphasized the importance of the forum in fostering collaboration and innovation in the pharmaceutical sector. Notably, Neo Institute of Medical Sciences and Technology will represent the Pharmaceutical Industry Development Agency of Uzbekistan (PIDA) in India and assist PIDA in securing investments from Indian pharmaceutical companies. Other specialists and diplomats from the Uzbekistan Embassy were also present. Indian pharmaceutical companies such as Hetero Labs and Bharath Biotech, along with other reputed firms, took part in this significant event.

The forum facilitated comprehensive discussions on the potential for joint ventures, research collaborations, and technology transfers that will benefit both Indian and Uzbek pharmaceutical industries. Additionally, substantial investment interests were expressed, signaling a robust commitment to strengthening economic ties and fostering mutual growth.

The bilateral trade volume between India and Uzbekistan is approximately USD 800 million, with pharmaceutical products being a major export from India. The forum underlined the high priority placed on Indian pharmacy and healthcare by the Uzbek side. The healthcare industry and medical education were highlighted as key areas strengthening bilateral relations, which include political, economic, and cultural dimensions.

Uzbekistan, a major hub in Central Asia, shares historical ties with India through the Silk Road. The country has welcomed Indian pharma companies, universities, and hospitals, leading to significant Indian presence in Uzbekistan. This development has bolstered sectors such as tourism, medical tourism, and medical education. Daily flights between India and Uzbekistan by Indigo and Uzbek Airways facilitate this growing relationship.

The event also provided a platform for in-depth discussions on regulatory harmonization, market access, and quality standards, which are crucial for facilitating smoother trade and investment flows. Participants highlighted the potential for increased collaboration in drug development and manufacturing, which could lead to more affordable and accessible healthcare solutions for both nations.

HE Mr. Sardor M. Rustambaev and Mr. Abdulla Azizov praised the efforts and contributions of all participants, expressing optimism about the future of Indo-Uzbek pharmaceutical collaboration.

The forum concluded with a commitment to continue strengthening ties and exploring new avenues for cooperation between the two nations. The positive outcomes of this event are expected to significantly benefit the industries and economies of both India and Uzbekistan, reinforcing their partnership and paving the way for a prosperous future.