India will become ‘Silicon Valley’ for wax: US

New Delhi, 25 October

The United States International Development Finance Corporation (DFC) and Hyderabad-based Biological E Ltd today signed a $50 million financing agreement to expand vaccine manufacturing capabilities in India.

David Marchik, Chief Operating Officer of DFC, and Mahima Datla, Managing Director of Biologicals E Ltd. signed the agreement, which will provide India and developing countries around the world the capacity to produce over 100 million doses of vaccines by the end of 2022. will support.

Marchik is leading a team of Biden executives for this initiative. “We’re trying to help create a hub for vaccine manufacturing and this type of expertise — like Silicon Valley is a hub for technology,” he has said.

The funding was announced at the Quad Leaders Summit in March 2021. – TNS