Latest news with #Marmore
The Hindu
05-05-2025
- Business
- The Hindu
Tap into growth opportunities in Kuwait, Indian pharma told
A reliance on imports in the absence of significant manufacturing footprint coupled with a growing population make Kuwait a promising destination for Indian pharmaceutical firms to export or set up production facilities, a study report commissioned by the Indian Embassy in the West Asian country showed. Kuwait's pharma imports from India are the lowest among Gulf Cooperation Council member-countries, both in terms of value and share of total imports. It is a pointer to the untapped potential for lower cost options from India, which globally is a major generic drugs supplier, the Marmore MENA Intelligence report for the Embassy found. In 2023, of Kuwait's total pharma imports of $1,881 million, India accounted for 0.7%. A little over 2% of total GCC pharmaceutical imports were from India. Indian pharmaceutical forms 4.6% of Oman's total pharmaceutical imports, the highest amongst the GCC countries, while UAE imports of $173.3 million from India, represents the highest value of imports among the six countries. The Pharmaceuticals Export Promotion Council of India, with whom the Embassy shared the report, in a communication to its members said the government of Kuwait is actively working on a pharmaceutical manufacturing strategy to develop a competitive, export-oriented industry. High-quality drug formulations, excluding active pharmaceutical ingredients manufacturing for the present; JVs with global companies for localising biosimilar production for regional and global markets; localisation of packaging materials for medicines and medical supplies; expansion of supply contracts to support local manufacturers; as well as incentive and support programmes for local producers are likely to be some of the features of the strategy, Pharmexcil said. Kuwait's population has grown 12.3% from 4.47 million in 2019 to an estimated 5.01 million in 2024. At present, there is one local manufacturing company - the Kuwait Saudi Pharmaceutical Industries Company. The generic painkillers and antibiotics manufactured by it are used for domestic consumption as well as for exports to the GCC and MENA region. Key import sources for Kuwait are the U.S. and European countries of Germany, , Switzerland, France, Ireland and Italy. A government study in Kuwait in March outlined various government objectives to support development of medical industries sector, which present an opportunity for international players to work in tandem with the government to fast-track the localisation of pharma manufacturing, the Marmore report said. Marmore said the advantages for companies tapping Kuwait include stress on expansion of generic medicines availability in the country to improve affordability while also pointing to the benefits of early entry, by pharma firms, to take advantage of pricing rules. While early entry provides higher margins, later entry enables suppliers to advantage from a larger volume of sales. This is because late entrants are forced to be priced lower than their counterparts, making them more affordable for the public, it said.
Zawya
30-04-2025
- Business
- Zawya
Marmore – Gold Employer Award from the CFA Society India
Kuwait: Marmore MENA Intelligence, the research arm of Kuwait Financial Centre 'Markaz', was felicitated by the CFA Society India as a 'Gold Employer' under their 'Employer Recognition Program' on 25th April 2025 in Mumbai, India. Mr. M.R. Raghu, CEO of Marmore MENA Intelligence and the Economic Advisor for Markaz received the award at the event. Marmore was among 20 organizations recognized for collaborating with the CFA Institute and CFA Society India, after an evaluation of over 400 employers in India. Marmore is privileged to receive this prestigious award from the CFA Society India for the second consecutive year, having been awarded Silver Employer last year. Candidates who have already obtained the CFA Charter or in the process of appearing for their CFA Level II & III exams are a part of the Marmore team. Marmore is committed to the upskilling of its employees with employees benefiting from regular training sessions, mentorship opportunities, and knowledge-sharing platforms designed to keep them aligned with industry developments. Through the upskilling program, employees are eligible for reimbursement of fees paid for all three levels of the CFA (US) examination. The program also offers five days of study leave per level to support employees in preparing for and appearing in the exams. Furthermore, employees who have successfully completed all three levels and are members of the CFA Society are entitled to reimbursement of the annual CFA charter fees. Commenting on the win, Mr. M.R. Raghu, said: 'We would like to thank the CFA Institute and the CFA Society India for recognizing Marmore's role and collaboration with the CFA society. Receiving this accolade, and for the second consecutive year, is a testament to Marmore's pivotal role in fostering young talent and driving career development. We remain dedicated to strengthening this partnership in the future, particularly in talent acquisition, training, and internships.' Career advancement is actively encouraged, with a clear preference for internal talent development and leadership roles frequently filled from within. Marmore maintains a well-structured rewards and recognition framework that acknowledges individual and team achievements, reinforcing a culture of excellence and appreciation. Marmore fosters a positive and enriching work culture that places strong emphasis on continuous learning and professional development. The team of analysts engage with a diverse range of intellectually stimulating management consulting projects spread across key verticals, including capital markets, economic research, and industry analysis, enabling them to broaden their expertise and build a solution-oriented mindset. The organization strives to provide a collaborative environment that values open communication, cross-functional teamwork, and a strong sense of community, while also supporting a healthy work-life balance. About Kuwait Financial Centre 'Markaz' Established in 1974, Kuwait Financial Centre K.P.S.C 'Markaz' is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.41 billion (USD 4.57 billion) as of 31 December 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors' horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz. For further information, please contact: Sondos Saad Corporate Communications DepartmentKuwai t Financial Centre K.P.S.C. "Markaz" Email: Ssaad@
