FinMin not in favour of tightening FDI norms in pharma

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The Finance Ministry is not in favour of tightening of norms for foreign investors in already existing Indian pharmaceutical companies, a senior official said. The Department of Industrial Policy and Promotion (DIPP) in its draft Cabinet has proposed to further tighten the rules for FDI in brownfield pharmaceutical sector. They have proposed several steps, including reducing FDI cap to 49 per cent in “critical verticals” of the sector from the current 100 per cent.               

Daily Pioneer
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