India’s Glenmark Pharmaceuticals on Thursday said it has opened its new facility in Argentina which would serve as a global hub for cancer treatment drugs.
Argentina has assured India of reviewing a ban on imported pharmaceutical products and announced the purchase of drugs worth 150-200 million US dollars from Indian firms, a statement said Wednesday.
India emphasized the need to deepen trade and investment engagements with Latin America by expanding the existing PTA with Mercosur, during a business seminar in Montevideo, Uruguay. But he added that double tax and investment protections agreements are critical to expansion.
A top level Indian business delegation headed by Minister of state for Commerce and Industry Jyotiraditya Scindia is travelling to Argentina and Uruguay to boost ties with Mercosur, according to the Indo-Asian news agency.
India is reaching out to emerging markets and Latin America, and more precisely Mercosur is a strategic priority, said India’s Minister for Commerce and Industry Jyotiraditya Scindia addressing the Confederation of Indian Industry (CII) India-Uruguay business conference that hosted a large Uruguayan business delegation led by the country’s Vice-President, Danilo Astori.