India firms eye pharma plants in PH

SOME Indian companies are exploring the possibility of establishing pharmaceutical manufacturing plants in the Philippines, the Business Council (AIBC) said.

In an interview at the sidelines of the India Engineering Exhibition Philippines (Indee) last week, AIBC Country Chairman Johnny Chotrani said these firms were “still talking with the DTI (Department of Trade and Industry) and could get “because the Philippine

According to him, five to 10 Indian companies are already in the pharmaceutical sector but are only into trading.

“They need more footprints to

said Chotrani, also the chairman of the Philippines-India Business Council.

The Indian embassy in Manila and other joint working groups are helping these companies, he added.

The official said earlier that India was looking to set up a pharmazone in the country, and was waiting for the government

“They are looking at the cost factors and all, so that’s why we need all the inputs for them, but offhand they like the idea and they

Chotrain’s remarks came as Manila and New Delhi are looking to increasing trade and investments.

In January, the DTI- attached Board of Investments signed a memorandum of understanding with Invest India, which aims to “facilitate direct investment by providing practical investment information to enterprises of both sides, assisting visiting investors,

Indian companies already have a presence in the local infrastructure, textile, garment, automobile, chemical, steel, and information technology sectors. They include the GMR Group, one half of the GMR-Megawide consortium that built the second terminal of the Mactan Cebu International Airport; conglomerate Aditya Birla Group; Ispat Group; and automakers Tata Motors and Mahindra.