Tata Global Beverages to sell its Russian business to Skodnya Grand
The Dollar Business Bureau Indian multinational Tata Global Beverages Ltd (TGBL) said on Thursday that it will sell its Russian business to a local company as part of its strategy to restructure operations in Russia. The amount of the deal has not been disclosed by the company. TGBL, a Tata Group subsidiary, has signed an agreement to transfer operational responsibilities and ownership of its business unit in Russia to Skodnya Grand Ltd, TGBL said in a statement. The deal also includes granting a 5-year renewable license pact for its brands in Russia to Tea Trade LLC, after the transaction has been completed, it added. The deal is likely to be concluded with the next in 3-4 months, subjected to the regulatory approvals, the company ...
100 years for BMW Group means 100 years of forward thinking, Vikram Pahwa
By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...
Government likely to set up think tank to boost pharma exports
The Dollar Business Bureau In order to resolve bottlenecks faced by pharmaceutical companies in the global market, the government is considering setting up a think tank with representatives from the industry, government departments and research bodies. Commerce Minister Nirmala Sitharaman on Tuesday met senior officials from the Ministry of Health, Drugs Controller General of India, Department of Pharmaceuticals, Department of Biotechnology, Department of Commerce and Pharmexcil to take stock of various issues affecting exports of Indian Pharma industry. The move comes on the heels of several cases of regulatory scrutiny faced by Indian drugs in the international market. Earlier this month, India had suspended talks on free trade agreement with the European Union after the 28-nation bloc imposed a blanket ...
Govt to spend Rs.1,750 crore to boost drug regulatory system, exports
The Dollar Business Bureau In an effort to boost the manufacturing and export of pharmaceutical products, the government will spend Rs 1,750 crore to tighten the drug regulatory system over the next three years. A proposal for strengthening and up-gradation of regulatory system at both at Centre and state levels was approved by the Cabinet Committee on Economic Affairs on Wednesday. “Out of the total amount of Rs.1750 crore, an amount of Rs.900 crore will be spent on strengthening central structures and Rs.850 crore will be made available to the state governments, after signing a Memorandum of Understanding,” an official statement said. The funds are meant for adding equipment and manpower in the existing drug testing laboratories and setting up of ...
