Hyderabad takes lead in pharma space amidst the pandemic.

Hyderabad takes lead in pharma space amidst the pandemic, says US Consul General
The city has taken the lead in pharma space amidst the pandemic, said Joel Reifman, Consul General, US Consulate.

Speaking at the webinar, organised by Federation of Telangana Chambers of Commerce and Industry (FTCCI), on Wednesday Mr Reifman said: “Successful cooperation between The United States and India during the COVID-19 pandemic is a direct result of our growing strategic partnership and increasing private sector and people-to-people ties over the years. As we emerge from the current crisis, we will leverage our partnerships – especially those formed in Hyderabad – among US and Indian firms, universities, and governmental research organisations.”

Earlier, in his welcome address, Mr Ramakanth Inani, president, FTCCI said that India and the United States are friends and allies, our citizens share the deepest of links, the election of the President of the US is, therefore, a moment of significance also on this side.

The post-Covid era may usher in unprecedented opportunities in building a new partnership. He mentioned that FTCCI will be glad to work closely with US Consulate in furthering the trade between the two countries.

The coronavirus pandemic has caused a change in global power dynamics, leaving India with opportunities that are ripe for the taking. A lot of international businesses are now looking to shift their businesses from China to other countries with India being perceived as a strong candidate to set up their new bases in Asia. India needs foreign investments in the areas of defence production, energy infrastructure, agriculture technology, etc, in which case the US may play a prominent role.

Indian especially Hyderabad Pharma companies are global leaders in producing affordable low cost medicines and vaccines and can be a reliable partner for providing affordable medicines to the US. India and US can work together in this direction for producing affordable vaccines, Mr Ramakanth said.

Mr. Rajendra Agarwal, Chair, International Trade Committee, FTCCI mentioned that India-US bilateral cooperation is broad-based and multi-sectoral, covering trade and investment, defence and security, education, science and technology, cybersecurity, high-technology, civil nuclear energy, space technology and applications, clean energy, environment, agriculture and health. Vibrant people-to-people interaction and support across the political spectrum in both countries nurture our bilateral relationship.

India is gearing up for a world post the COVID-19 pandemic wherein we require constant collaboration with fellow nations to strengthen each other. Our country more particularly Hyderabad has also taken the lead in the pharmaceutical space. In the spirit of international cooperation, India exported several vital drugs needed in the fight against the Coronavirus to several countries. The pandemic presents an opportunity for the country’s pharmaceutical sector to increase its footprint across the world, he added.

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