During the meeting, scheduled to be held through video conference at 6 pm on Tuesday, the Department of Biotechnology will make a presentation and also coordinate with all the participants, sources added.
Neelesh Surana, who manages Mirae Asset Tax Saver and Mirae Asset Emerging Bluechip, remains constructive on Indian equities from a three to five-year time frame.
Retail investors-those investing up to Rs 200,000-lapped up all the four initial public offerings (IPOs) that opened for subscription on Wednesday. This is the first time since 2007 that four IPOs have been launched on a single day, according to information provided by Prime Database. KFC and Pizza Hut franchisee Devyani International (size Rs 1,838 crore); Diagnostic chains Krsnaa Diagnostics (Rs 1,213 crore), pharmaceutical firm Windlas Biotech (Rs 401 crore) and vitrified tiles manufacturer Exxaro Tiles (Rs 161 crore) are the four companies whose IPOs opened on Wednesday.
'I never thought the European audience will love this film, but we had over 2,000 people at the screening.'
This will be the second all-party meeting called by the government to discuss the COVID-19 situation since the outbreak of the pandemic.
While Lupin is working on a Remdesivir powder for inhalation, Glenmark has tied up with a Canadian Biotech firm for nitric oxide nasal spray that reduces Sars-CoV-2 viral load and thus transmission.
The finance ministry on Friday withdrew expenditure curbs on various departments and ministries imposed in June in the wake of the COVID-19 second wave, reflecting improvement in public finances and the urgency to step up growth.
'There will be positive growth, but if you ask me whether we are going to have the original growth rate of 8%, the answer will be, no.'
The Taliban have stopped all imports and exports with India after entering Kabul and taking over the country on Sunday. Ajay Sahai, Director General (DG) of Federation of Indian Export Organisation (FIEO) told ANI that currently, the Taliban has stopped the movement of cargo through the transit routes of Pakistan, thereby stopping imports from the country.
Investments by private equity and venture capital funds declined by 22 per cent to $5.4 billion in June, as compared to the $6.9 billion in the year-ago period, a report said on Monday. However, if compared with May's $4 billion, the investments were higher by 33 per cent, the monthly report by industry lobby group IVCA and consultancy firm EY said. If one were to compare the inflows into companies in the first half of 2021, the investments were 45 per cent higher at $26.9 billion.
The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.
Demoralising the private companies and disregarding their contribution won't do any good to the country or its youth as our experience has shown that private enterprises in mobile manufacturing has lead to every poor family owning a mobile phone now, while the country's private sector in the pharmaceutical space has been serving humanity through vaccines and medicines during Covid times, Modi said.
Healthcare has become one of the largest sectors of the Indian economy and is expected to reach $372 billion in 2022, according to a report by Niti Aayog released on Tuesday. The report outlined a range of investment opportunities in the country's healthcare sector across hospitals, pharmaceuticals and medical devices. The report, titled 'Investment Opportunities in India's Healthcare Sector', also said India's healthcare sector has the potential to generate 27 lakh jobs in India between 2017 and 2022 -- over 5 lakh new jobs per year.
The data leak obtained by 'The Australian' newspaper has revealed how the alleged CPC members are employed with some of the world's biggest corporations in the areas of defence, banks and pharmaceutical giants manufacturing coronavirus vaccines.
The teams were from Gennova Biopharmaceuticals Ltd Pune, Biological E Ltd Hyderabad and Dr Reddys Laboratories Ltd Hyderabad.
The government has also given permission to 20 plants to produce the antiviral drug.
The panel also recommended giving approval to Bharat Biotech for carrying out a study on interchangeability of its Covaxin and the under-trial adenoviral intranasal vaccine candidate BBV154, but asked the Hyderabad-based firm to remove the word "interchangeability" from the study title and submit a revised protocol for approval.
The country's exports jumped by 60.29 per cent to $34.45 billion in March even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to $290.63 billion. Imports too grew by 53.74 per cent to $48.38 billion in March, but dipped by 18 per cent to $389.18 billion during April-March 2020-21, according to the government data released on Thursday. Trade deficit during March 2021 widened to $13.93 billion from $9.98 billion in March 2020.
India remains an attractive destination for foreign direct investments (FDI) on account of healthy prospects of economic growth and its skilled workforce, according to a survey by Deloitte. A large proportion of international business leaders remain confident in India's short- and long-term prospects and are readying plans to make additional and first-time investments in the country, it said on Tuesday. "The survey, which questioned 1,200 business leaders of multinational corporations in the US, UK, Japan and Singapore, found that India remains an attractive destination for investments, scoring highly for its skilled workforce and prospects for economic growth," the survey - India's FDI Opportunity - said.
Crisil Ratings on Wednesday said a broad-based recovery is on for India Inc currently, and upgraded its credit quality outlook to 'positive' from the earlier 'cautiously optimistic'. The rating agency said the credit ratio, which illustrates the number of upgrades to downgrades, rose to over 2.5 times in the first four months of the fiscal, as compared to 1.33 times in the second half of FY21, it said in a statement. The rating agency said it has also done a study of 43 sectors, excluding the financial sector, accounting for 75 per cent of the overall Rs 36 lakh crore in outstanding debt, which shows that the current recovery is broad-based.
The BCCI will be expecting the two new IPL franchises to go for Rs 7000 crore to Rs 10,000 crore each at the bidding process which begins in Dubai on Monday.
Communications between the USTR and the world's most powerful pharmaceutical and trade lobbying groups reveal that many raised concerns about India's push to exempt Covid vaccines from intellectual property.
If the vaccine is recommended for use as a booster against Omicron, it may significantly boost the demand for Covishield in India.
India and the US are the world's largest democracies and the two countries are committed to taking on the toughest challenges together, President Joe Biden said after his first-ever in-person meeting with Prime Minister Narendra Modi at the White House.
Though there is no official word, the sources said the government is not ready to give in to the indemnity demands of the US drug manufacturers against liabilities in case of adverse effects.
Sectors such as electronics, pharmaceuticals and automobiles can see supply disruptions in value chain, which may lead to a derailment of the domestic economic growth.
Fresher hiring sentiment is highest in India, with 17 per cent employers keen on recruiting fresh graduates in the July to December 2021 period against 6 per cent globally. According to the Career Outlook Report by TeamLease EdTech, conducted across 18 sectors and 14 cities, the hiring sentiment in the country has registered a 2 percentage point increase over the February-April 2021 period. In terms of sectors, those that have been able to withstand the impact of the pandemic and witnessed a stronger hiring sentiment are information technology (31 per cent), telecommunication (25 per cent) and technology start-ups (25 per cent).
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Moving quickly towards ending a retrospective tax dispute with a firm that gave India its largest oilfield, the government has accepted Cairn Energy PLC's undertakings which would allow for the refund of taxes, sources said. Meeting the requirements of the new legislation that scraps levy of retrospective taxation, the company had earlier this month given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government has now accepted this and issued Cairn a so-called Form-II, committing to refund the tax collected to enforce the retrospective tax demand, two sources with direct knowledge of the development said.
The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
The situation is severe in North India as most of the logistics operation was manned by migrant labourers from Uttar Pradesh and Bihar. The problem with manpower is not only in courier and delivery services, but also at a shop level.
The decision to open Kartarpur shrine was taken by the National Command and Operation Centre (NCOC) on Saturday due to the approaching death anniversary of Sikhism founder Baba Guru Nanak Dev on September 22.
The trial is being conducted in three phases by segregating children into categories according to their age. The first trial was started in the age group of 12 to 18 years followed by the age group of 6 to 12. Trials for children between the ages of and 2-6 years are currently undergoing trials.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
Consumption is among the most diversified and sought-after themes in Indian equities. Over the past five years, consumption theme funds have given an annualised category average return of 15.17 per cent, according to the data from Value Research. But this theme has been affected by the Covid-19 pandemic, which impacted jobs and livelihood.
Rediff reader K Srinivasan, 54 who works as associate general manager, corporate relations at BGS Gleneagles Global Hospitals in Bengaluru shares his story.
Pharmaceuticals, along with software and services, also added the most new entrants on the rich list 2018.
Fund managers said investors remained positive on the pharma manufacturing activity in India, which further strengthened during the Covid-19 period, on account of restrictions imposed on pharma imports from China.
The government said that "in exercise of extraordinary powers in public interest, conferred by paragraph 19 of the DPCO, 2013", the ceiling prices of 21 key formulations had been increased. These formulations include common medicines like BCG vaccines, penicillin, malaria and leprosy medicines (Dapsone), life-saving drugs like Furosemide (used to treat fluid build-up due to heart failure, liver scarring, or kidney disease), vitamin C, some common antibiotics, and anti-allergy medicines.
The Quad partnership is on track to produce at least a billion vaccine doses in India by 2022, US President Joe Biden said on Wednesday, asserting that nothing is more urgent than working together to defeat COVID-19 so the world is much better prepared for future pandemics.
The Central Drugs Standard Control Organisation has granted restricted emergency use authorisation to two new vaccines and a drug for COVID-19, taking the number of preventives and treatments available in India to 12.
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