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The Dollar Business Bureau Indian Pharma exports to the US may increase in 2017-18 despite pricing pressure and stiff competition. A report released by Care Ratings said that $50 billion worth of drugs are expected to become 'off-patent' in the current year giving hope to the Indian Pharma export market. "The pharma export volumes from India to US, however, are expected to rise. This will be backed by about $55 billion expected sales gain to generics drugs on account of branded drugs going off patent during 2017-19 which will create an opportunity for CRAMS segment. We expect growth rate for CRAMS (Contract Research and Manufacturing Services) to be higher compared to average growth rate of the industry. These factors are likely to support pharma exports from India," ...

The Dollar Business Bureau The Indian government has extended the entry of non-fumigated crop cargoes by another 6 months. The chemical methyl bromide (MBR), banned in most parts of the world, is used to fumigate crop cargoes as a pesticide. The Indian plant quarantine authority had earlier issued a stern warning that it would accept the entry of fumigated crop cargoes only if they have been treated with methyl bromide at the country of origin only after June 30. Today it has issued another notification extending the entry of crop cargoes that have not been fumigated, for another 6 months. Earlier the government had threatened to disrupt supplies of pulses from Canada, wheat from the Black Sea region and Europe if they ...

The Dollar Business Bureau  The Customs department has suspended the imports of livestock and livestock products into India from all countries due to the threat of avian influenza. A communication to the effect was issued via notification no: 09/2015-2020 dated June 8, 2017. According to the notification, the following imports have been suspended with further effect. domestic and wild birds (excluding poultry and captive birds)  unprocessed meat and meat products from Avian species including wild birds (except poultry)  semen of domestic and wild birds (except semen of poultry)  Live poultry and captive birds  day old chicks, ducks, turkey and other newly hatched Avian species  unprocessed meat and meat products from Avian species including wild birds  hatching eggs  egg and egg products (except Specific Pathogen Free eggs)  unprocessed feathers  live pig  pathological material and biological ...

The Dollar Business Bureau India on Tuesday signed a pact with Sri Lanka for a $318 million line of credit for developing the railway sector of island nation, according to officials. RHS Samaratunga, Secretary in the Ministry of Finance and Mass Media of Sri Lanka, and David Rasquinha, Managing Director of Export Import Bank of India in Colombo signed the agreement. Prime Minister Narendra Modi, during his first visit to the island nation in 2015, had announced a $318 million line of credit for development of railway sector of the country. The visit was the first standalone bilateral visit since 1987 by an Indian prime minister and had come in the wake of rising presence of China in the Indian Ocean country. China has been ...

Sheela Mamidenna Earlier in 2017, the Prime Minister Narendra Modi while addressing a geopolitical conference said, “Our economic and political rise represents a regional and global opportunity of great significance. It is a force for peace, for stability and an engine for regional and global prosperity. For my government, this has meant a path of international engagement focussed on building development partnerships that extend from the islands of the Indian Ocean and Pacific to the islands of the Caribbean and from the great continent of Africa to the Americas. Creating Indian narratives on global challenges.”  Well, for that matter, trade agreements play an important role in leveraging a country’s economic growth. Concurring to it, our globetrotting Prime Minister has made more than ...

The Dollar Business Bureau The EU was the largest destination of exports for Philippines in March this year. The latest statistics by Philippine Statistics Authority (PSA) revealed that exports to European Union member countries, with 16.2% share to total merchandise exports amounted to $901.24 million.  It rose by 56.2% from $577.04 million recorded in March 2016. What was even more interesting was that the export numbers of Philippines to EU for that month overtook those of US which was $809.93 million and Japan $762.43 million. Several factors contributed to the increase in trade numbers. A strong EU economy and its rising demand saw an increase of 1.9%, a rise in the agri-food sector exports backed by the EU’s Generalised Scheme of Preferences (GSP) that allows ...

The Dollar Business Bureau  With a huge demand for investment in the infrastructure, India is looking for investors globally and London would prove to be natural destination, said Nikhil Rathi, Chief Executive Officer, London Stock Exchange (LSE). “So, India is a fastest growing economy in G-20, growing at 7% a year. There is huge demand for infrastructure investment in India, and it is going global and looking for global investors and London is proving to be natural place for it,” Rathi said. The LSE witnessed the listing of Rs.7,000 crore worth of bonds on Thursday and Friday. India’s Road Transport Minister Nitin Gadkari has launched NHAI bonds worth Rs.5,000 crore on Thursday. Piyush Goyal, Power, Coal and Renewable Energy Minister, has launched the trading of papers on Friday worth Rs.2,000 crore from NTPC ...

PTI China's first large homemade passenger jet, touted as a competitor to Boeing and Airbus, made its maiden flight today, heralding the Communist giant's entry into the highly-competitive global aviation sector. The 158-seater C919 aircraft took to the skies from Shanghai Pudong International Airport in eastern China and made the country the fourth jumbo jet producer after the US, Europe and Russia, the state media reported. The 80-minute flight was greeted with applause by more than 1,000 spectators on the tarmac, including Chinese Vice Premier Ma Kai and Shanghai Party chief Han Zheng. The twin-engine plane departed with five crew members on board but without any passengers. "The maiden flight was exciting," said Wu Guanghui, C919's chief ...