Strengthening Ties: Indian Pharma Giant Sun Pharma Inaugurates New Plant in Bangladesh

 

In a significant stride towards bolstering bilateral economic ties, India and Bangladesh witnessed the inauguration of a new plant by Sun Pharma, a leading Indian pharmaceutical company, in Bangladesh. The ceremony, graced by esteemed dignitaries including Private Industry and Investment Adviser of Bangladesh Prime Minister Salman F Rahman and Indian High Commissioner to Bangladesh Pranay Verma, marked a pivotal moment in the growing partnership between the two nations.


Situated at the Meghna Industrial Economic Zone in the Sonargaon upazila of Narayanganj district, the new plant stands as a testament to India's steadfast commitment to fostering collaboration with Bangladesh. With a production capacity exceeding 1 billion tablets and capsules annually, this investment underscores Sun Pharma's confidence in Bangladesh's pharmaceutical sector and its potential for growth.

High Commissioner Verma, in his address, emphasized the profound economic and industrial engagement between India and Bangladesh, citing the new plant as a tangible manifestation of their evolving relationship. He highlighted India's integral role in supporting Bangladesh's pharmaceutical industry, fulfilling approximately 30% of the country's Active Pharmaceutical Ingredients (API) demand.

Furthermore, Verma underscored the strategic significance of the plant, being the first pharmaceutical unit established within an Economic Zone in Bangladesh. This milestone not only signifies India's enduring commitment but also reflects the burgeoning interest among Indian businesses to explore investment opportunities in Bangladesh.

The ceremony also served as a platform to acknowledge the robust bilateral cooperation in the health sector, particularly amidst the challenges posed by the COVID-19 pandemic. India's proactive support through initiatives like 'Vaccine Maitri' and the provision of essential medical supplies underscored the depth of solidarity and collaboration between the two nations during times of crisis.

Recognizing Bangladesh's remarkable progress in the pharmaceutical domain, Verma hailed the nation's emergence as a pivotal player in generic drug manufacturing. With Bangladesh's renewed emphasis on domestic production, coupled with favorable government incentives, he highlighted the immense potential for Indian manufacturers to engage in mutually beneficial partnerships with Bangladeshi companies. Opportunities abound in the form of Joint Ventures, collaborative research and development endeavors, and technology transfers, fostering innovation and sustainable growth.

As Sun Pharma's new plant becomes operational, it not only signifies a milestone in India-Bangladesh economic relations but also paves the way for deeper collaboration, innovation, and shared prosperity in the pharmaceutical sector. With both nations poised to leverage each other's strengths, the partnership is poised to reach new heights, contributing significantly to regional development and prosperity.

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