India had been engaged in a contentious battle with the US over the issue, especially in the pharmaceutical sector.
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Foreign direct investment (FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed on Wednesday.
Excise duty on drugs likely to be halved
Dairies, milk plants, grocery shops, chemists and petrol pumps, ATMs, e-commerce services of essential items like food and medicines will remain open, he said.
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
The United Kingdom on Wednesday became the first country to approve the Pfizer/BioNTech vaccine against COVID-19, paving the way for mass vaccinations against the deadly novel coronavirus.
NPPA suggests expanding the list of essential medicines whose prices are controlled
In 2011-12, 2010-11 and 2009-10, the sector attracted FDI worth $1.99 billion, $1.66 billion and $2.55 billion respectively.
A single-member commission under retired judge Anita Jha was constituted on Firday to probe the botched sterilisation surgeries at Bilaspur's government-run medical camps, which have so far claimed lives of 13 young women and left nearly 138 ill, and asked to submit its report within three months.
In keeping with the Trusts' objectives, the initiative was underpinned by an attempt to determine how over-nutrition was impacting citizens at a mass scale.
CBI has also summoned a senior official of Reliance Industries Limited and a noted chartered accountant.
US country head, key departmental heads leave; more likely to follow.
Foreign direct investment (FDI) in India almost doubled to $2.16 billion in December 2014, compared to $1.10 billion in the same month of 2013.
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
Several companies, including Indian units of Abbott Laboratories and Pfizer Inc, and domestic firms like Cipla Ltd and Macleods Pharmaceuticals, went to the Delhi High Court to try to get the ban lifted.
The Ministry of Science and Technology has approached about a dozen well-known scientists from across the world in an effort to bring them back to various departments under the ministry, said Jitendra Singh, minister of state (independent charge) for science and technology.
According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
There may be shortage of drugs till pharmaceutical companies supply new batches with revised MRPs.
Fresh guidelines issued by the Union home ministry on Wednesday permit industries operating in rural areas to run from April 30 with strict social distancing norms.
A certain segment of the US pharma industry have become vocal about Indian policies on domestic content requirements and IPR.
There were apprehensions in the SII about rival Bharat Biotech's 'indigenous' tag, opening up shortcuts for it. One senior person, who was very familiar with the sector, told me, 'The message has gone out from the very top. Somani (V G Somani -- drug controller general of India) has told me "Bharat ka karna hai".' A fascinating excerpt from Abantika Ghosh's Billions Under Lockdown: The Inside Story Of India's Fight Against COVID-19.
In January 2014, the country had received $2.18 billion FDI.
Financial shares were among the top Sensex gainers along with auto and pharma shares.
Delhi, Uttar Pradesh and Jammu reported one case each, officials said.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
Amongst the top 10 sectors, telecom received the maximum FDI of $2.47 billion
The National Institutional Ranking Framework (NIRF) has released a list of top Indian universities across categories.
The highest FDI came in services ($2.18 billion), followed by automobiles ($1.28 billion), pharmaceuticals ($1.27 billion) and construction development ($1.05 billion) in the 11 months of 2013-14.
Gates, who is to attend the World Economic Forum's Annual Meeting, on Monday said there is reason to be optimistic than ever about the future progress using vaccines to give all children a healthy start to life.
The overall FDI policy landscape is changing and can do so faster, says
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
MicroPort entered the market on Feb 15 and its stent was used in a Mumbai hospital.
Services attract highest foreign direct investment, despite Make in India push.
Roadblocks ahead as these medicines could face new clinical tests, more scrutiny
FDA allows Teva to launch Nexium generic; Cipla, which supplies formulation, to gain
