Iran offers incentives to lure Indian pharmaceutical investment

Tehran is seeking to expand its economic ties with India after the latter invested in Iran strategic southern port of Chabahar. New Delhi has been offered to invest in Irans pharmaceutical production.

17 December 2018
ID : 1705
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Iran's Health Minister, Hassan Hashemi, says Indian pharmaceutical companies will receive support from the Iranian government to facilitate their investment and activities in the country.

"Iranian Ministry of Health has provided a package to facilitate the permanent presence and investment of foreign pharmaceutical companies in the country", Hashemi said at a joint meeting of Iran-India pharmaceutical industries and medical equipment in New Delhi on Friday.

He added that once a product is produced inside Iran, the Iranian government will impose restrictions on the import of the same product from European and American companies. The products will also be marketed with reasonable prices in Iran. 

Hashemi stressed that long-term investment in Iran would provide Indian companies with a stable market.

The Iranian minister noted that he has told Indian minister of commerce not to deprive Indian companies of exporting their products to Iran while European and American sides continue to export to Iran even in the face of sanctions.

He added that doing business with national currencies has given Indian companies a good opportunity to invest in the Iranian market and the West Asia region, noting that if India fails to take advantage of this opportunity, Iran would go to other countries for investment. 

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