India’s pharma industry relies heavily on US market, with $8.07 bn worth of exports in FY 2023-2024. Pharmaceuticals are India’s third largest goods exported to US in dollar terms.
Researchers associated with The Ohio State University found that number of severe adverse events linked to generic drugs made in India was 54% higher than for those made in the US.
India & EFTA (Iceland, Liechtenstein, Norway and Switzerland) are negotiating Trade and Economic Partnership Agreement (TEPA) that is likely to be finalized within next few weeks.
Report by Organisation of Pharmaceutical Producers of India and Ernst & Young says growth could be propelled by expansion in the domestic market, spurred by India's economic growth.
Nearly 80 percent of small and medium drug manufacturing units in India do not follow good manufacturing practices (GMP) requirements, according to government estimates.
The Drugs, Medical Devices and Cosmetics Bill, 2023, is being planned as a substitute for the existing drug law, which was passed during the pre-Independence period.
Chemicals and Fertilisers Minister Mansukh Mandaviya says move will help India become self-reliant in manufacturing key drugs. Most raw materials were so far imported from China.
Indian judiciary has a corrosive imbalance between the bar and the bench. Those who supervise the district judiciary do so without the lived experience that is essential for meaningful reform.
With the US-India trade deal yet to get done, rupee depreciation may be helping to mitigate India’s loss of competitiveness. The other problem is extreme despondence among overseas equity investors.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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