FDI in pharma doubles this year
Updated: Nov 19, 2013 05:33:41pm
New Delhi, Nov 19 (KNN) Foreign direct investment (FDI) in the pharmaceutical sector has more than doubled to USD 1.07 billion during April-August 2013 over the same period last year.
FDI in drugs and pharmaceuticals was USD 487 million during April-August 2012, according to the latest data released by the Department of Industrial Policy and Promotion (DIPP).
There are reports that the Commerce Ministry may tighten the FDI policy which governs the norms for takeover, making them stricter.
Over 96 per cent of the total FDI in the sector between April 2012 and April 2013 has come into existing units.
India allows 100 per cent FDI in pharma sector through automatic approval route in the new projects, but foreign investment in the existing companies are allowed only through the FIPB (Foreign Investment Promotion Board) approval.
Other sectors which received high FDI during the period include services (USD 1.19 billion), automobile (USD 661 million), construction (USD 592 million) and chemicals (USD 359 million), according to official data. (KNN/ST)
FDI in drugs and pharmaceuticals was USD 487 million during April-August 2012, according to the latest data released by the Department of Industrial Policy and Promotion (DIPP).
There are reports that the Commerce Ministry may tighten the FDI policy which governs the norms for takeover, making them stricter.
Over 96 per cent of the total FDI in the sector between April 2012 and April 2013 has come into existing units.
India allows 100 per cent FDI in pharma sector through automatic approval route in the new projects, but foreign investment in the existing companies are allowed only through the FIPB (Foreign Investment Promotion Board) approval.
Other sectors which received high FDI during the period include services (USD 1.19 billion), automobile (USD 661 million), construction (USD 592 million) and chemicals (USD 359 million), according to official data. (KNN/ST)
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