Dubai: The Indian consulate in Dubai and leading life sciences cluster Dubiotech on Monday joined hands to encourage, educate and inform Indian investors about the potential of the UAE's burgeoning biotech sector. "I have seen a wealth of interest from Indian lifescience companies and potential investors in coming to Dubai to explore the possibilities. I look forward to assisting in their endeavours where I can," said Consul General of India in Dubai Sanjay Verma after meeting with executive director of DuBiotech Marwan Abdulaziz.

"Strengthening our partnership with India is an integral part of DuBiotech's strategy to build and stimulate the UAE's life science industry," Abdulaziz said. He added that focus would be on "exponentially building on the potential for R&D collaboration, knowledge and technology exchange, and ultimately addressing the imbalance in levels of imported drugs versus locally manufactured pharma products".

He said the business park was already home to a number of well-reputed Indian companies such as Sun Pharma, Epygen, Wockhardt, Lupin, and Life Cell and NeoBiocon, a joint venture company between UAE-based Neopharma and the Indian biotech innovator Biocon. Dubiotech is a free zone dedicated to facilitating and fostering the growth of the life sciences industry in the UAE. Trade between India and the UAE is in excess of $44 billion, according to the consul general of India in Dubai.