government for fdi in pharma sector
mumbai: the government intends to attract foreign direct investments in pharmaceutical research and development, says suresh prabhu, minister for chemicals and fertilisers. mr prabhu told a meeting of the pharmaceutical and allied manufacturers and distributors association, that huge investments are required in research and development and, for this purpose foreign investments will be the right choice. "research centres will be set up in partnership with our chemical laboratories and an arrangement can be worked out where property rights to discoveries can be shared between the investors," mr prabhu said.

he said the government will organise a round table of international investors and has already informed indian missions abroad on this.

forex reserves at new high
mumbai: the country’s foreign exchange reserves stood at $34,026 million during the week ended 19 november, which marks a new high. according to the weekly statistical supplement of the reserve bank of india, this represents an increase of $241 million over the previous week’s level. the increase is mainly on account of growth in foreign currency assets.