An inter-ministerial meeting chaired by Prime Minister Manmohan Singh and attended by the Commerce Minister and the Health Minister today arrived at a decision to bring foreign direct investment into brownfield projects in the pharmaceutical space under Foreign Investment Promotion Board (FIPB) approval. This news has bought a smile onto the face of DG Shah, Secretary General of the Indian Pharmaceutical Alliance.
Also read: Pharma FDI cap retained at 100%; CCI to be watchdog In an exclusively interview to CNBC-TV18, Shah said that this move was needed so that the Competition Commission of India could ensure no company held a dominant position in the pharma sector.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!
