commerce minister of india
FIPB nod to stay for FDI in domestic pharma unitsThe government, has decided that all foreign investments in existing domestic pharma firms should be allowed only after clearance by the Foreign Investment Promotion Board (FIPB), amid mounting concerns over availability of affordable essential drugs in the wake of multinationals acquiring local companies.
The decision was taken at a high-level meeting chaired by Prime Minister Manmohan Singh. The meeting was attended by Finance Minister P. Chidambaram, Commerce and Industry Minister Anand Sharma and Health Minister Ghulam Nabi Azad, among others.
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