Evincing interest in the Indian pharmaceutical and medical technology sector, Saudi Arabia today said it was keen to extend incentives to Indian pharma industry to set up base in their country for producing affordable medicines.
These views were expressed by a Parliamentary delegation led by Abdullah Bin Mohammed bin Ibrahim Al Al-Sheikh, Speaker of Majlis Ash Shura (Consultative Council) of the Kingdom of Saudi Arabia that called on Health and Family Welfare Minister Ghulam Nabi Azad here today.
The delegation, which is on a three-day visit to India, welcomed help from India for transfer of medical technology and help it with medical education as India possessed the technical capacity.
Abdullah said bilateral visits not only help enhance understanding between the two countries but also help highlight areas of possible cooperation. The delegation informed that currently Kingdom of Saudi Arabia imports about five billion dollar worth of pharmaceuticals.
Azad recalled the close relations reflecting old economic and socio-cultural ties India shared with Saudi Arabia and shared the Indian experience in areas of innovations in health care service delivery, interventions in making health care accessible and equitable and the country's strength in producing good quality generic drugs at affordable prices.
The Minister suggested that India could help Saudi Arabia with knowhow of setting up medical colleges as also with medicine supplies. He said India is the 4th largest producer of pharmaceuticals in the world in terms of volume and 13th largest in terms of value and its products are exported to 211 countries which are acknowledged at many a UN forum for their good quality, safety and efficacy.
Azad noted that about two million Indians in Saudi Arabia account for a big expatriate community in the country.
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