India Launches National Pharma Mission

The Government of India launched the National Pharma Mission for the development of bio pharmaceuticals through industry-academia collaboration. This program will focus on the development of specific products such as vaccines, biotherapeutics, and newer platform technologies for medical devices and diagnostics.

Funded by India’s central government and through a loan from the World Bank, the Mission will be implemented by the Biotechnology Industry Research Assistance Council (BIRAC), a unit of the  Department of Biotechnology. Renu Swarup, managing director of BIRAC said, “This mission is not for new discovery, but for creating infrastructure to move important early leads, which are in different stages, through the pipeline, and create products.”

Research

The National Biotechnology Development Strategy 2015-2020 announced by the Department of Biotechnology lays emphasis on making India ready to meet the challenge of achieving a $100 billion biotech industry by 2025, reports the Indian Express.

June 8, 2017   No Comments

World Bank Expects India’s Growth at 7.2% in 2017

A World Bank report said that after a modest setback, India’s economic growth is expected to pick up speed from 6.8% in 2016 to 7.2% by 2017. Further, growth is expected to gather momentum by 2019 when the Indian economy is expected to expand by 7.7%.

World Bank Logo

The report also confirmed that South Asia remains the fastest-growing region in the world, gradually increasing its lead relative to East Asia. Regional GDP growth is expected to rise from 6.7% in 2016 to 6.8% in 2017, and 7.1% in 2018, reports the Times of India.

April 24, 2017   No Comments

Carlyle’s $1 Billion Growth Fund to Focus on India and China

Washington D.C.-based global private equity firm Carlyle will raise $1 billion under its new Asian growth fund largely focused on investing in India and China.

Per a disclosure, the International Finance Corp is one of its Limited Partners, and the private sector investment arm of World Bank has committed $25 million to the fund. The new growth fund is expected to make 15 to 20 investments ranging between $30 million to $75 million in China and India, accounting for $800 million of the total amount, reports VCCircle.

Business

March 15, 2017   No Comments

World Bank Supports India’s Solar Energy Program

The World Bank Group signed an agreement with the International Solar Alliance to provide $1 billion support to Indian solar energy projects. Led by India, this Alliance consists of 121 countries and was launched at the UN Climate Change Conference in Paris end-November last year, by Prime Minister Narendra Modi and French President François Hollande. Through this Alliance, India aims to collaborate with global agencies and mobilize around $1 trillion of investment in solar energy by 2030.

Solar Panels

Solar Panels

The World Bank-supported projects include solar rooftop technology, infrastructure for solar parks, bringing innovative solar and hybrid technologies to market and transmission lines for solar-rich states. The cumulative investment in solar would be the World Bank’s largest financing in this sector for any country, reports Business Standard.

Additionally, the World Bank Group has committed $625 million to state-owned State Bank of India to support the grid-connected rooftop solar program which will  support the government to achieve its target of generating 40 gigawatts of electricity from the installation of rooftop solar photo-voltaic panels.

 

 

July 9, 2016   No Comments

Templeton Sees India Growing at 10% Shortly

Mark Mobius, Executive Chairman, Templeton Emerging MarketsGroup, is positive on India and believes the Indian economy is on a strong footing. “I can see India growing at 10% in the next few years if reforms continue to kick in,” he said in an interview with Business Standard. “We have  $2 billion plus investments in India and we want to increase it,” he added.

Mark Mobius

Mark Mobius

Excerpts from the interview below:

The  investment sectors of interest in India:  “Given the fact that the country is growing and with the on-going reforms, banking is the obvious selection to begin with. And some of the conglomerates, companies that are involved in a number of sectors and getting a wider exposure of the markets will be another area. We also like technology and pharmaceuticals. We have a mix of both public and private bank stocks in our India portfolio.”

Two years of Modi’s Government:  “The emphasis of the Modi government on the low income segment of the population is very good. I believe it not just a populist move but is also a key element in making the Indian economy healthy because you are creating a whole new generation of consumers and people who are becoming more productive. The Modi government’s emphasis on empowerment rather than hand-outs is very good.”

U.S. Federal Reserve is  expected to increase rates; trajectory down in India; FIIs pulling money out of Indian debt. How do you see things playing out?:  “This trend will continue. As long as you continue the reforms of the financial system in India and make it more transparent and efficient then rates will come down. If you see a more efficient productive society with less restrictions, your inflation will come down and interest rates will fall. This should have been done a long time ago. The emphasis of the government on the less fortunate segments of the society is very critical. The fixed income side will see some impact.”

Whether GDP growth of 8% is possible in India:  “It (8% growth) is quite possible. I can see India growing at 10% in the next few years if reforms continue to kick in. I believe the numbers are reasonably accurate, give or take half a per cent.”

 

 

 

 

June 6, 2016   No Comments