Ambassador’s remarks at Office Opening Ceremony of MSN-Remedies LLC, subsidiary of MSN Laboratories Pvt. Ltd., India April 24, 2025

I am glad to be here at the opening of the office of MSN remedies in Tashkent. Also happy that it’s happening at a time when India-Uzbekistan relations are on a high trajectory in every area and health and pharma sectors being one of the most important ones. Also glad to note that our pharma sector is further strengthening its ties with Uzbekistan with emphasis on moving beyond trade to investments, capacity building and R and D. Last year we had the biggest pharma delegation visit Uzbekistan of over 90 companies and they are keen to partner with Uzbekistan – a country with a growing population base and rising economy and more importantly a nation with which we share strategic partnership energised by warm ties.

MSN group is one of the fastest growing pharma companies and after having established presence in Kazakhstan have entered the Uzbek landscape. My good wishes to them.  India’s pharmaceutical industry ranks third globally in pharmaceutical production by volume.  We have a resilient domestic sector of approximately 3,000 drug companies and over 10,500   manufacturing units. We are the world’s largest provider of generic medicines, with a 20 percent global supply share. There have been significant success stories be it access to affordable HIV treatment or being one of the biggest suppliers of low-cost vaccines in the world. The total market size of the Indian Pharma Industry is expected to reach US$ 130 billion by 2030 and US$ 450 billion market by 2047.India has the largest number of USFDA-compliant pharmaceutical plants outside the US and over 2,000 WHO-GMP approved facilities, serving demand from 150+ countries worldwide. All this offers huge scope for cooperation especially when we speak of access to good quality and affordable medicines. We are also in discussion on recognition of Indian pharmacopeia in Uzbekistan which will ensure access to quality Indian medical products at affordable costs.

As I said that apart from trade, India will be happy to encourage more investments into Pharma sector in Uzbekistan.  Some of the companies do feel that cost of production could be more in Uzbekistan but I am certain that with incentives and benefits to be accrued to investors, Indian companies are finding Uzbekistan a viable destination to invest. I also see tremendous potential in cooperation in traditional medicines. The Ayurveda market in India is anticipated to grow substantially, reaching an estimated value of US$ 16.27 billion by 2028. I have always felt that there is so much we can do together especially when it comes to serving our people be better and affordable health care sustainable living, skill development and resource building. As two countries of global south committed to development of their people and guided by the Vision of Hon’ble PM Modi and President Mirziyoyev, we must continue to learn from each other and grow and prosper together.