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70% vaccines sourced by WHO, 14% generics imported by US are from India: Minister

Economic Times

Economic Times · 2m ago

70% vaccines sourced by WHO, 14% generics imported by US are from India: Minister

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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'Disappointing': Ashwini Vaishnaw reacts to Mark Zuckerberg's incorrect claim on Lok Sabha elections

Economic Times

Economic Times · 7m ago

'Disappointing': Ashwini Vaishnaw reacts to Mark Zuckerberg's incorrect claim on Lok Sabha elections

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.

India aims for single-digit logistics costs to compete globally

Inshorts · 5m ago

India aims for single-digit logistics costs to compete globally

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."

Trade tariffs: India will never compromise on interests of farmers, says Union minister Chouhan

Economic Times

Economic Times · 3d ago

Trade tariffs: India will never compromise on interests of farmers, says Union minister Chouhan

Union Agriculture Minister Shivraj Singh Chouhan emphasized India's resilience against US tariff pressures, refusing to compromise on farmers' interests by permitting agricultural imports. Highlighting India's commitment to self-reliance, Chouhan stated that India will not sign agreements detrimental to national interests, urging citizens to buy indigenous goods to boost employment. He criticized the preference for imported products, labeling India as a nation with immense talent and a capable workforce, further fostering confidence and economic strength.

Healthcare costs in US to shoot up following Trump tariff on Indian goods: Industry experts

Economic Times

Economic Times · 28d ago

Healthcare costs in US to shoot up following Trump tariff on Indian goods: Industry experts

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.

Nvidia CEO Heaps Praises On PM Modi For His Vision For AI

Inc42 · 10m ago

Nvidia CEO Heaps Praises On PM Modi For His Vision For AI

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.

US drug price policy may raise costs for India, GTRI warns

Inshorts · 3m ago

US drug price policy may raise costs for India, GTRI warns

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.

Taxes in India are high, but people buying such cars are able to digest them: Lamborghini CMO

Thehindubusinessline

Thehindubusinessline · 1y ago

Taxes in India are high, but people buying such cars are able to digest them: Lamborghini CMO

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.

TechEagle launches drone hubs in collaboration with healthcare institutions in eight states

Economic Times

Economic Times · 9m ago

TechEagle launches drone hubs in collaboration with healthcare institutions in eight states

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.

Mankind Pharma secures CCI approval for ₹13,360-crore worth acquisition of Bharat Serums and Vaccines | Mint

Livemint

Livemint · 11m ago

Mankind Pharma secures CCI approval for ₹13,360-crore worth acquisition of Bharat Serums and Vaccines | Mint

- 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.

What is driving Walmart's shift from China towards India for imports?

Livemint

Livemint · 1y ago

What is driving Walmart's shift from China towards India for imports?

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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