Indian market

Dr. Gajendra Singh Across the world, supply chain crisis during COVID-19, has brought back the need for a self-reliant economy including in India, which imports 70 percent of its raw material like active pharmaceutical ingredients. The transactions around the world is not about demand and supply only but the dimension of quality is an integral part of it. The big question that arises here is, “Are we ready enough, more in terms of quality than quantity, to shift this global dependence to local producers?” A WHO report (2017) claims 10.5 percent of medicines sold in low and middle-income countries, including India, are substandard and falsified which is a serious threat to patient safety with dangerous side effects and may lead to other health problems. In low/middle income countries, every 10th medical product is either substandard or falsified which may not only fail to treat or prevent diseases but can also cause serious illness or even death. It also has financial ... » Learn More about Counterfeit Drugs: Threat to India’s reputation of Indian Self-reliant Model

India's services activity expanded at the fastest rate in a year during February, while employment fell further and companies noted the sharpest rise in overall expenses, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index rose from 52.8 in January to 55.3 in February, pointing to the sharpest rate of expansion in output in a year amid improved demand and more favourable market conditions. The index was above the critical 50 mark that separates growth from contraction for the fifth month in a row during February as the roll-out of COVID-19 vaccines led to an improvement in business confidence towards growth prospects. While, new work intakes expanded for the fifth straight month, panellists continued to indicate that the COVID-19 pandemic and travel restrictions curbed international demand for their services. "New export orders declined for the twelfth month running, albeit at the weakest rate since last March," the survey noted. ... » Learn More about India’s services sector expands at fastest rate in a year in Feb; employment falls further: Survey

T he Indian rupee ended slightly lower on Monday as sentiment remained cautious on concerns foreign investors would pare some of their domestic equity or debt holdings, but easing global geopolitical tensions limited the fall. economists. "The dollar-rupee has become a play on global markets, and we may see a pause in the dollar's runaway gains," said Anindya Banerjee, a currency analyst at Kotak Securities, a brokerage in Mumbai. The partially convertible rupee closed at 61.19/20 per dollar, compared to Friday's close of 61.14/15. The unit had dropped to 61.74 last week, its lowest since March 5. The 50-share NSE index rose 0.76 percent, snapping a three-day losing streak on the back of better-than-expected earnings and as some of the losses were seen as overdone. Traders cited little impact from the Reserve Bank of India's board meeting in Delhi on Sunday. Finance Minister Arun Jaitley was seen giving conditional support to Governor Raghuram Rajan's goal to ... » Learn More about Rupee ends tad lower; losses capped as geopolitical tensions ease

State-owned Container Corporation of India Ltd. (Concor) on Friday said it plans to source its annual requirement of about 8,000 containers, which till now were being imported from China, solely from domestic manufacturers. Concor, that spends about ₹200 crore annually on procurement of containers, had already given a developmental order for 1,000 containers each to Bharat Heavy Electricals (BHEL) and Braithwaite & Co. — both public sector undertakings. For the remaining 6,000 containers, the company would soon issue tenders in which only domestic firms would be able to participate. “As of now, all containers are imported because there is no manufacturing capability in India,” said V. Kalyana Rama, CMD. “We want to push India as a manufacturing hub for containers. Our requirement is 8,000 containers every year for the next five years. This is enough to support the start of manufacturing in India,” he added. He observed that Concor was the largest procurer of containers in ... » Learn More about Concor set to source containers locally: CMD

Russian arms manufacturer Kalashnikov plans to start making its AK-203 assault rifle in India this year and wants to attract a wider audience with a hi-tech shotgun, chief executive Dmitry Tarasov said. Named after the designer of the AK-47 assault rifle that has been used for decades in wars around the world, Kalashnikov has been seeking new business and markets after being hit by U.S. and EU sanctions over Russia’s annexation of Crimea in 2014. It is targeting a 60% increase in annual revenue to more than 50 billion roubles ($675.33 million) by 2025, Tarasov told Reuters. Featuring a built-in computer, the Ultima shotgun envisages Wi-FI and bluetooth connectivity and can synchronise with smartphones. Also central to Kalashnikov’s growth plans is India, where it aims to produce 6.7 lakh AK-203 rifles in the next decade together with the Indian Defence Ministry. ... » Learn More about Russia’s Kalashnikov may make AK-203 rifle in India