Pharma exports up by 29% in 2008-09 Anand Sharma addresses Indo-Africa pharma business meet
New Delhi, Source : PIB
Shri Anand Sharma, Union Minister of Commerce and Industry, while addressing the Indo-Africa Pharma Business Meet in Hyderabad today, has stated that the exports of drugs, pharmaceuticals and fine chemicals for the year 2008-09 stood at Rs.39,538 crore (around US $ 9.35 billion), registering a growth of about 29% over the last year.
“In recent times the Indian pharmaceutical sector has emerged as one of the major contributors to Indian exports with export earnings rising from a negligible amount in early 1990s to Rs.29,139.57 crore (US $ 7.24 bn) by 2007-08. The exports of Drugs, pharmaceuticals & fine chemicals of India have grown at a compounded annual growth rate of 17.8% during the five-year period 2003-04 to 2007-08”, the Minister added. Shri Sharma also distributed the awards to the leading exporters of the pharma sector. Chief Minister of Andhra Pradesh, Shri K. Rosaiah, was also present as the Guest of Honour at this function.
The Minister also announced the Government of India’s decision to establish National institute of Design in Hyderabad as a mark of respect to the departed Chief Minister Shri Y.S. Rajshekhar Reddy. Speaking on the occasion, Shri Sharma stated that in generic medicines sector i.e., tablets and capsules, injectables and infusion, oral solutions, ointments and creams, Indian companies have established their lead in most of the markets including Africa. He further added that the growing export of India in African countries has started causing concern in multinational companies who have started a campaign as Indian generic medicines being counterfeit and substandard.
Recognizing the contribution of Indian pharmaceutical industry in exports of the country, Shri Anand Sharma informed that several benefits have been extended to the industry in the Foreign Trade Policy announced recently – viz., (i) Additional resources have been made available under the Market Development Assistance Scheme and Market Access Initiative Scheme. PHARMEXCIL, the Export Promotion Council has been provided funds for Brand Promotion of Indian pharmaceutical industry in Africa under MAI Scheme. (ii) Incentive available under Focus Market Scheme has been raised from 2.5% to 3%. Pharma sector will also benefit with this. (iii) Incentive under Focus Product Scheme has been raised from 1.25% to 2%. (iv) Pharmaceutical has been included in Market linked Focus Product Scheme. Thus exports to Algeria, Egypt, Kenya, Nigeria, South Africa and Tanzania will be eligible for benefit under this Scheme. (v) Zero duty has been introduced under EPCG Scheme for aiding technological upgradation for pharma sector also.
The 3-day (25-27 September) Meet is being attended by Drug Regulatory Authorities from African countries, viz., South Africa, Kenya, Nigeria, Ghana, Zambia and Uganda along with the Health Minister of Kenya and DG-NAFDAC, Nigeria. During the event, apart from Buyer-Seller Meet, Drug Controller General of India will make a presentation on Drug Regulation Mechanism in India before the Drug Regulators of African countries |
Cairn, ONGC to invest $4 b in Rajasthan
Mumbai, Source: The Hindu Business Line
Cairn India, the domestic subsidiary of Edinburgh-based oil explorer Cairn Energy, and state-owned ONGC will jointly invest $4 billion (Rs 20,000 crore) to scale up the production capacity of their oil fields at Barmer in Rajasthan by 25,000 barrels of oil per day (bopd) to two lakh bopd. They had earlier revised their production target from 1.50 lakh bopd to 1.75 lakh bopd.
On Tuesday, addressing the shareholders of Cairn India in Mumbai, chairman Sir Bill Gammell said: “By 2011, Cairn and its joint venture partner will invest up to $4 billion on the development of Mangla, Bhagyam and Aishwarya fileds.” The investment will be shared between Cairn India and ONGC in the ratio of 70:30 in line with their equity holding in the oil fields.
“We will commence crude oil production from Barmer shortly. We believe there is potential to extend and enhance peak plateau production from Rajasthan fields above the level of 1,75,000 bopd,” he added. Cairn, the main operator of the blocks, had earlier revised the production target from 1.50-lakh bopd to 1.75-lakh bopd. The commercial production at the Mangla filed in the Barmer basin is expected to begin by this month with an initial capacity of 30,000 bopd. The production will be increased by a further 100,000 barrels per day in the first half of next year.
An analyst with an international firm said the proposed investment was anticipated. “Cairn is setting up a processing capacity of 2.05-lakh bopd for the Mangla processing terminal. This suggests that Cairn’s peak production will be beyond 1.75-lakh bopd,” he explained. However, he said there should be more clarity on the pricing and offtake of the Cairn’s crude from Rajasthan fields.
Cairn intends to transport the oil through an insulated pipeline from Rajasthan to the Gujarat coast. But before the completion of the pipeline, expected by December, it will have to transport oil in trucks to Gujarat for shipping to Indian Oil and MRPL. |
Healthcare industry attracts investment opportunities from PEs, VCs
New Delhi, Source: IBEF
The Indian healthcare industry, which is expected to reach at US$ 75 billion in 2012 from the current US$ 35 billion, is attracting investment opportunities from private equity (PE) and venture capital (VC) firms, according to private equity experts. “There is a huge demand supply gap in healthcare delivery business in India as there are few organised hospital chains. Pharma, retail, medical equipment, diagnostics services are businesses where efficiency can be brought in,” said Sahad PV of VC Circle, an website which tracks deals. Similarly, Sanjay Arte, Partner, India Value Fund, a PE fund focusing on mid-size firms, also believes that there is a significant untapped potential for PE and VC firms in sector.
Recently, VC Circle had organised an investment summit to map out the opportunities in the healthcare sector. During the summit, participants discussed the US$ 50 billion-a-year opportunity presented by the healthcare sector, venture capital investments in healthcare, pharmacies, outpatient healthcare, among others. |
|
Panasonic India to invest US$ 100 million in new plasma TV facility
Panasonic India plans to invest US$ 100 million in its new plasma TV production facility in 2011, according to a top company official. "We plan to invest USD 100 million in our new production facility in 2011," Panasonic India CEO Daizo Ito said, while addressing the press at Mumbai. The proposed facility will be the sixth production unit for the company, apart from the already existing units at Noida, Gurgaon, Vadodara, Chennai and Delhi. On the occasion of the launch of the world's slimmest, 1-inch plasma TV called Vierra PDP Z1, Ito added that the market potential for plasma TV was far greater than that of China, with demand for such high-end sets rising at a rate of 4-10 per cent in the country.
Source: IBEF |
Accor to invest $130 million for 50 hotels
Even as the ongoing recession has forced most hotel groups across the world to go slow on expansion, Accor Hospitality said it will invest $130 million to come up with 50 hotels in India by 2012. Accor is the largest hotel chain in Europe, with 4,000 hotels in 90 countries.
“The revenue of upscale and midscale hotels has been severely impacted due to the recession worldwide. However we are bullish on India’s growth prospects,” said Michael Issenberg, chairman and COO, Accor-Asia Pacific. Accor currently operates five hotel properties and one convention centre in India, with a room inventory of 1,100. In the next three years, the company will have an inventory of 10,460 rooms in 50 hotels spread over 15 cities. Said Uttam Dave, head of development for Accor’s hotels in India: “Room rentals have declined 10-15 per cent in the past one year and this is expected to continue for the coming few months. However, we see a positive growth in room rentals very soon.” The company is also open to increasing its equity investment for the committed projects in the coming years if the need arrives, according to Issenberg.
Source: Business Standard |
Farm exports to top $20 bn by 2014: Government
Exports of agricultural products from the country will more than double to top Rs 1 lakh crore (Rs 1 trillion or $20 billion) in the next five years, says an official export promotion agency of the commerce ministry. According to estimates by the Agricultural and Processed Food Products Export Development Authority (Apeda), the share of India's farm product exports in the global trade will also grow from 2 percent now to over 5 per cent. "It is very important to increase our exports to the developed countries," Apeda director S Dave told a business meet organised by the Associated Chambers of Commerce and Industry here. Exports of fresh and processed vegetables, fruits, livestock and cereals grew 24 percent in rupee terms to Rs.39,000 crore in 2008-09. In dollar terms, such exports rose 10 per cent to $8.67 billion. "Consumption patterns are fast changing in the international market. There is an emergence of specific products like functional foods, convenience foods, dietary products and organic products," Dave said.
Source: The Economic Times |
|
