Lithuania seeks to more effectively exploit business opportunities with India
Karolis Žemaitis, Deputy Minister of the Economy and Innovation, who is on a working visit to India, attended the opening of the Honorary Consulate of Lithuania in Hyderabad and discussed with the new Honorary Consul of Lithuania, Dr. Kiran Divi, the opportunities for closer cooperation in the fields of pharmaceuticals and medical research.
Dr. K. Divi is the Managing Director of Divi's Laboratories Ltd., the third largest manufacturer of active pharmaceutical ingredients in the world. The company employs more than 15 000 people.
"Lithuania has the potential to become a platform for the development of Indian high-tech companies in Europe. Among other things, with a wide and strong network of contacts in the region, we have more opportunities to open up the huge Indo-Pacific market for Lithuanian companies and innovation development," said Vice-Minister K. Žemaitis.
Lithuania has already become a comfortable home for start-ups and growing multinational companies - it is a gateway to the European Union and a great place for Indian investment.
During his visit, K. Žemaitis also presented Lithuania's business and investment environment to potential investors and participated in the international BioAsia 2023 event, which is dedicated to the life sciences, biotechnology, pharmaceuticals, medical and health technology sectors.
Tomorrow, 28 February, K. Žemaitis will participate in the India-Europe Business and Sustainability Conclave in Delhi and will meet with Chandrajit Banerjee, Head of the Confederation of Indian Industry. He will also meet India's Minister of Science and Technology, Jitendra Singh, and India's Minister of External Affairs, Meenakshi Lekhi.
Last year, India ranked 36th in terms of trade turnover among Lithuania's 211 trading partners, 51st in terms of exports and 28th in terms of imports. In 2022, the trade turnover between the two countries amounted to 269.9 million euros.