Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the ‘pharmacy of the world’ looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R and D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India’s G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
Posts tagged Rediff
Key mantra for India’s pharma sector in 2023 (21-12-2022)
Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the ‘pharmacy of the world’ looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R and D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India’s G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
Next financial crisis will come from crypto world: Das (21-12-2022)
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some “dent” to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the “green box”. It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will “dent” the economy.
UAE deal is a challenge for Indian bullion refineries (21-12-2022)
Gold import from the UAE at a lower rate of duty — in terms of an agreement — has posed a survival challenge for the Indian refining industry while hurting the price discovery of the metal, with the India International Bullion Exchange starting operations at GIFT City. The problem has arisen after the government signed the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. Under it, Indian jewellery manufacturers have been allowed to import gold at a concessional rate of 14 per cent against 15 per cent, which is normal.
BIS to engage e-commerce players for self-regulation (21-12-2022)
The Bureau of Indian Standards (BIS) will engage stakeholders in the e-commerce space to establish standards with the objective of self-regulation, said its deputy director Parul Gupta at the Internet Commerce Summit 2022 in Bengaluru. “Standardisation will allow parties to transact qualified commodities and services at any location and time,” said Gupta. BIS recently released standards for e-commerce players, travel portals, and food delivery platforms that publish consumer reviews online, as part of the government’s efforts to crack down on fake reviews, said Gupta.
Derivatives trade in wheat suspended for 1 year (21-12-2022)
Capital markets regulator Sebi has extended the suspension of futures and options trading in seven agricultural commodities, including wheat and moong, for one more year till December 2023 in a bid to rein in prices. The other agricultural commodities suspended by Sebi are — paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives. “The suspension of trading in the above contracts has been extended for one more year beyond December 20, 2022, i.e. till December 20, 2023,” Sebi said in a statement on Wednesday.
In a U-turn, outstanding NRI deposits rise in October (21-12-2022)
Breaking the streak of continuous fall in outstanding amounts, non-resident Indian (NRI) deposits rose for the first time in the financial year to $134.54 billion in October 2022. The figure was $133.67 billion in September. Reserve Bank of India (RBI) data showed that NRI deposits were in shrinking mode for the first six months of FY23. They fell to $133.67 billion in September from $139 billion in March.
Online MF investment platforms can charge fee: Sebi (21-12-2022)
Online mutual fund (MF) investment platforms like Groww, Zerodha Coin and Paytm Money, which allow investments in direct MF schemes for free, will soon be able to charge their customers or the fund houses for executing transactions. “They can charge some money but commission-like structure won’t be allowed,” Madhavi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), said on Tuesday. At present, none of these online investment platforms generate any revenue through the MF sales.
Grim global situation casts shadow on Budget 2023 (21-12-2022)
Ahead of the Union Budget for 2023-24, Budget makers have welcomed the global consensus view that India will remain one of the bright spots in calendar year 2023. But there is some alarm over the grim global situation and how that might impact the Centre’s projections and assessments for next financial year. The big global headwinds include a deep and sustained recession in the West, including India’s biggest trading partners in North America and Europe, continuing volatility in commodity markets, and renewed Covid-19 fears, as lifting of strict curbs by China could potentially lead to a massive spread again.
Govt approves Rs 357 crore for Foxconn under PLI (20-12-2022)
The government has approved Rs 357.17 crore for Apple’s vendor Foxconn India and Rs 58.29 crore for Dixon Technologies subsidiary Padget Electronics under the Production-Linked Incentive scheme for mobile phones. This is the first time the government has cleared an incentive of a global company engaged in electronics manufacturing in the country. “Foxconn Hon Hai Technology India Mega Development Pvt. Ltd is the first global company that has been approved under the target segment ‘Mobile Phones’ (in the category of invoice value of Rs 15,000 and above) to receive incentive under mobile manufacturing for the period 1 August 2021-31 March 2022 based on its incremental investments and sales figures.