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    FDI in drugs and pharma sector rose to Rs 2065 crore in April-Sept FY20: Government

    Farhat NasimWritten by Farhat Nasim Published On 2020-02-09T11:00:43+05:30  |  Updated On 9 Feb 2020 11:00 AM IST
    FDI in drugs and pharma sector rose to Rs 2065 crore in April-Sept FY20: Government

    The foreign direct investment (FDI) equity inflow in the drugs and pharmaceutical sector stood at Rs 1,842 crore in FY 2018-19, Minister of State for Shipping and Chemicals & Fertilizers Mansukh Mandaviya said in reply to a question in the Rajya Sabha.

    New Delhi: Total foreign direct investment in the drugs and pharmaceutical sector in the country rose to Rs 2,065 crore during April to September period of fiscal year 2019-20, Parliament was informed on Friday.

    The foreign direct investment (FDI) equity inflow in the drugs and pharmaceutical sector stood at Rs 1,842 crore in FY 2018-19, Minister of State for Shipping and Chemicals & Fertilizers Mansukh Mandaviya said in reply to a question in the Rajya Sabha.

    FDI in the sector was at Rs 6,502 crore in 2017-18, Rs 5,723 crore in 2016-17, Rs 4,975 crore in 2015-16 and Rs 9,052 crore in 2014-15, he added.

    To attract larger FDI in the pharmaceutical sector, the government reviews FDI policy on an ongoing basis with a view to liberalise and simplify it progressively and improve the country's investment climate by providing ease of doing business, Mandaviya said.

    Also, various measures are taken under 'Make in India' initiatives facilitating investment, fostering innovation and thereby promoting robust business environment in the country, he added.

    "The drugs and pharmaceuticals sector is witnessing an era of unparalleled growth and innovation. Drugs and pharmaceuticals are India's largest sectors- both in terms of revenue and employment," Mandaviya said.

    The government amended the FDI policy on pharmaceutical sector in June 2016 by allowing 100 per cent FDI for greenfield pharmaceutical projects and up to 74 per cent FDI for brownfield pharmaceutical projects through the automatic route and beyond that through government's approval, he added.

    FDI is largely a matter of private business decisions and inflows depend on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors, Mandaviya added.

    Also Read: Indian Pharma, Healthcare Sector Poised For Another Year Of Robust Growth

    Source : PTI

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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