-The Hindu The Commerce and Industry Ministry, on Thursday, issued new guidelines for pharmaceutical makers to comply with the European Union (EU) Good Manufacturing Practice (GMP) standards. In a statement issued here, the Ministry says such a move will give a boost to pharma exports from India. "India has demonstrated its keenness to meet international requirements for exports of pharmaceutical products yet again by taking timely action for complying with the new...
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Interest rates may fall as inflation slows to 3-year low
-The Times of India The inflation rate slowed to a more than three-year low of 5.96% in March on the back of softening vegetable, fruits and milk prices, brightening the prospect of an interest rate cut by RBI while bringing relief for the politically beleaguered government. Lower interest rates would provide relief to thousands of borrowers reeling under the burden of high equated monthly installments ( EMIs) on their home loans. Data released...
More »Flawed EIAs sail through-Kanchi Kohli
-Civil Society Online Accreditation is the act of granting credit or recognition. It is to be preceded with a process where facts, figures and professional ethics are scrutinized so that the desired certification of competency, authority or credibility is presented. Only the best suited with the requisite track record are to find themselves in the approved list. In India, the much talked about and well critiqued initiative wherein consultants undertaking the responsibility...
More »We will not yield to pressure to grant patents, says Sharma-Sujay Mehdudia
-The Hindu Union Commerce and Industry Minister Anand Sharma has termed "historic" the Supreme Court's rejection of Novartis' claim for patent for its anti-cancer drug Glivec. He said the Indian Patent Act was in conformity with its international obligations under the Trade Related Aspects of Intellectual Property Rights Agreement. "It is a historic judgment. It reaffirms the position of Indian law and, in particular, provisions of Section 3D, which mandates... a substantive...
More »No tax relief for SEZs, rules Chidambaram -Sidhartha
-The Times of India In a major setback to special economic zone (SEZ) developers, finance minister P Chidambaram has turned down the commerce department's plea to cut the minimum alternate tax (MAT), which was imposed two years ago. A lower or no tax burden was cited as one of the main drivers for boosting investment in what were until recently duty-free enclaves. The commerce department had made a case for reversing Chidambaram's...
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