Indian drugs companies keen on Zim

A NUMBER of pharmaceutical companies from India are keen to set up manufacturing plants in Zimbabwe, an official has said.

In an interview on the sidelines of the CBZ International SME indaba in Bulawayo last week, India Ambassador to Zimbabwe Mr Rungsung Masakui said their firms were attracted by the huge demand for pharmaceutical products in Zimbabwe.

“At the moment there are few companies doing pharmaceutical business in Zimbabwe and there are others who are trying to set up manufacturing plants here.

“There is a dire need of pharmaceutical products in Zimbabwe and right now all the pharmaceutical products, 80 percent of them are coming from India not directly but through World Bank, Unicef or institutions like that,” he said.

“So our businesses are trying to set up some pharmaceutical plants in Zimbabwe directly as a private venture.”

Ranbaxy and Ipca Labs Ltd were some of the entities from India that have of late established business relations with the Zimbabwean health sector.

An Indian firm, Shreya, has invested in the largest pharmaceutical company in Zimbabwe-CAPS Ltd.

Amb Masakui said at present it was difficult for individual businesses in India to bring their pharmaceutical products to Zimbabwe directly.

As a result, Amb Masakui said Indian investors in the pharmaceutical sector were courting various Government ministries in Zimbabwe to facilitate the setting up of manufacturing plants locally.

Amb Masakui said he wishes to see the setting up of the manufacturing plants by investors from India happening soon.

Zimbabwe and India enjoy cordial relations that have gone beyond cultural and social links as the two nations have close business and trade ties.

The economic relations between the two countries have over the years been deepening with the Indian public sector companies like Indian Railway Construction Company, Rail India Technical & Economic Services, Water and Power Consultancy Services, among others having a successful history of engagement with Zimbabwe.

At the just ended indaba, Small to Medium Enterprises from India expressed willingness to partner their local counterparts in various economic sectors by setting up manufacturing plants in the country.

The SMEs from India have also invited their local counterparts for capacity building workshops in the Asian country. — @okazunga