FDI cap in pharma to hurt global investor confidence: Body
Imposing restrictions on foreign direct investment (FDI) in the pharmaceutical space would hurt overseas investment flows into India and will send a wrong signal to global investors, reports the Economic Times quoting president of the Organisation of Pharmaceutical Producers of India (OPPI) Ranjit Shahani.
March 05, 2011 / 01:13 IST
Imposing restrictions on foreign direct investment (FDI) in the pharmaceutical space would hurt overseas investment flows into India and will send a wrong signal to global investors, reports The Economic Times quoting president of the Organisation of Pharmaceutical Producers of India (OPPI) Ranjit Shahani.
The report further quoted Shahani saying that such a move at a time when the government is concerned about the decrease in the flow of FDI to India will lead to shifting of investments to other countries and will also discourage spending in healthcare sector.OPPI also said the fear of rise in prices of drugs due to acquisition of home-grown firms by global counterparts is totally unfounded.Source: The Economic Times Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!