Business news

MINSK, 25 January (BelTA) – Indian pharmaceutical companies are discussing the possibility of setting up joint ventures with Belarusian partners, Ambassador Extraordinary and Plenipotentiary of India to Belarus Pankaj Saxena said on 25 January at a press conference to mark the upcoming Republic Day of India, BelTA has learned.

The head of the diplomatic mission pointed out that Belarus and India successfully cooperate in pharma industry. Some India-made medicines are already available at Belarusian drugstores.

The Ambassador also sees great prospects for cooperation in power engineering, including in the use of alternative energy, especially solar power.

“The Indian government is eager to bolster cooperation with Belarus. There are many opportunities for boosting bilateral trade,” Pankaj Saxena believes.

He pointed out that 2015 was an important year for both countries. The President of India visited Minsk in June. “That was the first state visit at the highest level to Belarus,” the diplomat stressed. He believes that the visit gave an impetus to the bilateral relations. Belarus and India are currently working to implement agreements signed at the highest level. Pankaj Saxena noted that during the visit it was decided that India would provide a $100 million loan to Belarus for joint projects.

The Ambassador also emphasized that the meeting of the Belarusian-Indian intergovernmental commission in September 2015 was an important event. Its participants reviewed the status of implementation of the top-level agreements.

The press conference took place several hours after the ceremony of presenting credentials to Belarus President Alexander Lukashenko. It was held to mark the upcoming Republic Day of India celebrated on 26 January. The diplomat stressed that India has achieved significant results since it became a sovereign state. Today the economy of India is the seventh-largest in the world, and it continues developing.