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The Dollar Business Bureau Commerce Secretary, Rita Teaotia had led an official and a business delegation to Ecuador and Colombia from 16th to 19th May. The Commerce Secy’s visit to Ecuador could in many ways reveal India’s keenness to further its interests in the country. The Indian side had representatives from Pharma, IT, Auto, Mining & Construction, Bio Fuels, Agro-Chemicals, Iron & Steel and Textiles and representatives from FICCI accompanying the Secretary. Ecuador though a tiny country holds many promises through its natural resources. It has gold reserves of 2,25,000 tons, silver reserves of 12,500 tons and as per an OPEC official release, its total share of OPEC production in crude is 1.7% and as per Jan 2017 stats, has produced 536.00K barrels ...

The Dollar Business Bureau Rita Teaotia is leading a 25 member business delegation to Colombia and Ecuador from May 15-20, 2017 to explore trade and commerce opportunities. The purpose of her visit is to strengthen India’s trade relations with the Latam countries. In Ecuador, the Commerce Secy will be attending the first meeting of JETCO. The Indian delegation comprising of senior officials from leading Indian companies of pharma, IT, textiles, agro-chemicals, automobiles, telecom, railways and Ayurveda will also be a part of the G2B interaction at Guayaquil, Ecuador scheduled on May 17. The industry reps are likely to share  a summary of their deliberations on the seminar titled, ‘India-Ecuador Business Forum’ held on May 16 at the JETCO meeting. The business delegation accompanying ...

Sneha Gilada The pharma bigwigs, after the government recently imposed a cap on stent prices, are in for another rough ride as PM Modi seeks to make prescription of cheap generic drugs binding on doctors. Speaking at the inauguration ceremony of a charitable hospital in Surat on April 17, Narendra Modi vowed to take on the mantle of making healthcare affordable to the Indian middle class and poor. In his speech, he averred that the health policy was being revamped after a gap of 15 years. The last time it was updated was back in 2002. The new health policy lays special emphasis on the pricing of drugs included in the National List of Essential Medicines (NLEM), along with the timely revision of the list. "Price control ...

Source: PTI Corporate India's merger and acquisition (M&A) spree saw a significant uptrend in October, taking the deal tally for the first 10 months this year to $29 billion, says a Grant Thornton report. According to the assurance, tax and advisory firm, there were 58 M&A transactions worth $3,144 million in October, a jump of 233%. M&As were up 35% in terms of the number of transactions. The significant growth in October values was due to big ticket transactions, the report said, adding that seven deals were valued over $100 million each and one was worth a billion dollar. Together, they contributed to around 80% of total M&A value. “Outbound investments and Domestic M&A have been demonstrating signs of growth,” Grant ...

The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman has pitched for a strong focus on the country’s trade with China, while expressing concern over China’s “efforts to stall India’s exports through non-tariff barriers”. On Friday, the Minister held a meeting with a parliamentary consultative committee in Goa to assess the performance of India’s foreign trade. Responding to suggestions given by the committee members, the minister said that focus was being given on sectors such as pharma/ IT/ ITES/gems & jewellery/ textiles/ fruits & vegetables/ meat exports to improve India’s exports to China. “The Commerce Minister highlighted the concern that China has been making efforts to stall India’s exports through non-tariff barriers such as phytosanitary stipulations, standardisation issues etc,” ...

The Dollar Business Bureau Government on Friday cleared 14 Foreign Direct Investment (FDI) proposals related to Teleservices, Financial Service Holdings, Technology, Insurance and Healthcare companies. The Foreign Investment Promotion Board (FIPB), chaired by Economic Affairs Secretary Shaktikanta Das, considered a total number of 23 FDI proposals in its meeting, cleared 14 of them, rejected four and deferred its decision on five proposals. The companies whose proposals got cleared include Eros International Media, Indian Rotorcraft, AGS Transact Technologies and O-Zone Networks, according to sources. Whereas, proposals of Reliance Globalcom, Firefly Networks, Apollo Hospitals and Aegon Religare Life Insurance were said to have got deferred. FIPB, in its next meeting on September 22, 2015, is likely to take up a total number of ...

The Dollar Business Bureau Union Minister for Health and Family Welfare J P Nadda released the FICCI knowledge paper ‘Indian life sciences: Vision 2030 – Expanding global relevance and driving domestic access’ at the FICCI Life Sciences Conference in the capital today. The theme which centred on ‘Pharma Vision 2030: Building India’s Global Relevance’ was attended by a host of government officials and industry professionals. In his inaugural address, Nadda highlighted that the government was in the process of amending the Drugs and Cosmetics Act to encourage innovation and the entrepreneurial spirit of manufacturers. Speaking on research and development (R&D), he said that Indian pharma companies are spending less than 2% of their total turnover on R&D. “It is time that ...

 The Dollar Business Bureau    Setting “high level of ambition” for economic partnership, India and China on Friday signed 24 agreements worth US$ 10 billion. The agreements related to cooperation in railways, maritime development and other sectors were signed after a meeting between Prime Minister Narendra Modi and his Chinese counterpart Li Keqiang. Setting up a joint think-tank forum is also one of the key agreements signed between the two countries. Both the countries have agreed to remove impediments to bilateral trade and investment, facilitate greater market access to each other’s economies, and support local governments to strengthen trade and investment exchanges, a joint statement released by the two governments said. “We have set a high level of ambition for ...