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70% vaccines sourced by WHO, 14% generics imported by US are from India: Minister
Economic Times
·
1m ago
Medial
Union Minister Anupriya Patel highlighted India's significant role in global healthcare during a forum organized by the Indian Pharmacopoeia Commission. She noted that India supplies 70% of the World Health Organization's vaccines and 14% of the generic medicines imported by the US. Patel emphasized India's commitment to affordable, quality medicines, praising initiatives like Jan Aushadhi Kendras and the 'Vaccine Maitri' program, which distributed vaccines to over 100 countries during the COVID-19 pandemic.
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India aims for single-digit logistics costs to compete globally
Inshorts
·
4m ago
Medial
The 32nd Convergence India & 10th Smart Cities India was inaugurated by Nitin Gadkari, Minister for Road Transport & Highways, Government of India. In his speech, the Minister stated, "India's economy is growing rapidly, with infrastructure development playing a key role. Our goal is to reduce logistics costs from 14-16% to single digits, making us more competitive with China and the US."
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'Disappointing': Ashwini Vaishnaw reacts to Mark Zuckerberg's incorrect claim on Lok Sabha elections
Economic Times
·
6m ago
Medial
Union Minister Ashwini Vaishnaw criticized Meta founder Mark Zuckerberg’s claim that incumbent governments, including India, lost the 2024 elections due to COVID-19 handling as factually incorrect. Vaishnaw highlighted India’s achievements, such as free food, vaccines, and economic growth under PM Modi, who won a third term. Zuckerberg’s comments, made during a podcast with Joe Rogan, were countered by Vaishnaw, emphasizing that the 2024 elections reaffirmed trust in Modi’s government.
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Healthcare costs in US to shoot up following Trump tariff on Indian goods: Industry experts
Economic Times
·
8d ago
Medial
The recent imposition of a 25% tariff by the US on Indian goods, along with penalties related to Russian crude oil and military equipment purchases, is expected to increase healthcare costs in the US, according to industry experts. This move by President Trump could disrupt the supply of affordable generics from India, inflate drug costs, and strain the American healthcare budget. Indian pharmaceutical profits might decline, affecting innovation and research advancements.
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Nvidia CEO Heaps Praises On PM Modi For His Vision For AI
Inc42
·
9m ago
Medial
NVIDIA CEO Jensen Huang revealed that Indian Prime Minister Narendra Modi was the first world leader to urge him to discuss the potential applications of emerging technologies. Huang stated that Modi emphasized the need for India to produce its own artificial intelligence (AI) rather than rely on imported intelligence. The prime minister has been a vocal supporter of AI adoption in India.
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US drug price policy may raise costs for India, GTRI warns
Inshorts
·
2m ago
Medial
The US push to cut drug prices via a 'Most-Favoured Nation' policy may shift financial burdens to emerging markets like India, warns GTRI. Pharmaceutical giants could seek higher prices and stricter IP protections in India to offset losses. Experts urge India to resist TRIPS-plus trade demands and protect its low-cost generics model vital to global health access.
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Taxes in India are high, but people buying such cars are able to digest them: Lamborghini CMO
Thehindubusinessline
·
1y ago
Medial
Luxury sports car manufacturer Lamborghini has acknowledged that taxes and customs duties on imported cars in India are high but believes that those who can afford such vehicles are able to handle the taxation. India imposes over 100% import duty on completely built units (CBUs). Lamborghini's Chief Marketing and Sales Officer, Federico Foschini, stated that while the high taxation may sometimes hinder purchases, those who can afford such cars can digest the additional cost. Foschini also mentioned that Lamborghini customers tend to travel frequently, comparing prices across the globe.
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TechEagle launches drone hubs in collaboration with healthcare institutions in eight states
Economic Times
·
9m ago
Medial
TechEagle has launched eight dedicated hubs in collaboration with healthcare institutions in India to facilitate the rapid delivery of medical supplies to underserved communities using drones. Inaugurated virtually by Prime Minister Narendra Modi, these hubs will play a crucial role in deploying essential medicines, vaccines, and diagnostic samples to remote areas. The hubs are located in various states, including Assam, Uttarakhand, and Himachal Pradesh, with plans to expand to over 200 locations in the coming year. With reduced delivery times compared to traditional ground transport, TechEagle aims to establish a nationwide drone delivery airline that can support deliveries across different sectors.
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Mankind Pharma secures CCI approval for ₹13,360-crore worth acquisition of Bharat Serums and Vaccines | Mint
Livemint
·
10m ago
Medial
- The Competition Commission of India (CCI) has approved the proposed acquisition of Bharat Serums and Vaccines by Mankind Pharma for ₹13,630 crore. - Mankind Pharma announced in July that it would acquire Bharat Serums and Vaccines from private equity firm Advent International for around ₹13,630 crore. - Mankind Pharma will raise up to ₹10,000 crore through the issuance of non-convertible debentures and commercial papers. - The acquisition of Bharat Serums and Vaccines will establish Mankind Pharma as the market leader in the Indian women's health and fertility segment. - Mankind Pharma is one of the largest pharmaceutical companies in India, engaged in developing, manufacturing, and marketing pharmaceutical finished dosage formulations. - Bharat Serums and Vaccines is involved in research, development, manufacturing, and distribution of pharmaceutical formulations, APIs, and health supplements.
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What is driving Walmart's shift from China towards India for imports?
Livemint
·
1y ago
Medial
Multinational retail corporation Walmart is reducing its reliance on Chinese supply chains and increasing imports from India. Between January and August 2023, Walmart imported 25% of its US imports from India, up from just 2% in 2018. Growing geopolitical tensions and cost factors are driving Walmart to shift supply chains from China to countries like India, Thailand, and Vietnam. Walmart aims to import $10 billion worth of goods annually from India by 2027 and is currently sourcing products ranging from toys to pharmaceuticals from the country.
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MoS Commerce in Rajya Sabha: India continues to engage with the US to achieve enhancement and broadening of bilateral trade ties
Business Today
·
4m ago
Medial
India and the US are negotiating a Bilateral Trade Agreement aimed at enhancing market access, reducing trade barriers, and resolving key trade issues. India is open to reducing duties on items like automobiles, whiskey, medical devices, and certain agricultural goods. Meanwhile, the US seeks greater access for its agricultural products. Discussions led by US officials, including Assistant Trade Representative Brendan Lynch, are ongoing with positive progress reported. India's Minister Piyush Goyal noted the negotiations are advancing well.
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