India to proceed with Iran gas pipeline
New Delhi: India has said it would go ahead with the proposed gas pipeline project with Iran. the External Affairs Minister, Mr Pranab Mukherjee told the media that India is interested in the pipeline and negotiations on the pricing were going on. His response came when a leading TV channel asked him to comment on US objections to the proposed Iran-Pakistan-India (IPI) gas pipeline.

The US Energy Secretary, Mr Samuel Bodman, during a visit here last week, had said Washington was opposed to India having the pipeline project with Iran as it was against his country's law.

India has maintained that feasibility aspects such as pricing and commercial viability will be the only factors guiding the trilateral project that is estimated to be of the tune of US $7.4 billion.
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Frames 2007 flagged off in Mumbai
Mumbai: The entertainment and media sector is expected to cross Rs 1,00,000 crore, registering an 18 pc compounded annual growth rate (CAGR), according to a Ficci-PwC report, released to mark the annual media and entertainment convention Ficci-FRAMES.

The event is being attended by a large contingent from Italy for the first time, and Paolo Gentiloni, Italian minister of communications, addressed the gathering.
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Lamy wants India to open up agri sector
New Delhi: WTO chief Pascal Lamy has said India should give increased market access for agricultural products and contribute toward advancement of the contentious Doha Round of global trade talks.

Lamy said special protection for India and G-33 developing countries have been secured, it "does not negate the overall objective of providing increased market access opportunities, as agreed when we launched the Round in 2001".

Under Special Products, India and many other countries would be allowed to protect vulnerable farmers from imports by keeping markets for limited items closed through higher import duties. But the dispute revolves around the number and the types of Special Products.

India wants that developing countries should be allowed to name these items and also set the number.
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Government to enforce 5 pc cut in prices of 75 drugs
New Delhi: The National Pharmaceutical Pricing Authority (NPPA) will enforce a 5 per cent cut in the prices of over 75 commonly-used medicines like ibuprofen, riifampicin, insulin, erythrymocin and vitamins, within two weeks.

The NPPA's move is aimed at passing on benefits of reduction in the Customs duty on basic chemicals and active pharmaceutical ingredients (APIs) announced in the Budget to the consumer.

The authority on March 21 notified revised prices of 34 APIs where Customs reduction was in the range of 5-7.5 per cent. Companies using these APIs as ingredients in their medicines will have to make proportionate reduction in the prices of their drugs within 15 days of notification.

The NPPA's decision may compel all major pharmaceutical companies like Nicholas Piramal, Cipla, Workhardt etc to revise their medicine prices.

According to NPPA sources, the reduction in Customs duty has not only reduced the prices of several medicines, but also resulted in nullifying the chances of an upward revision in a large number of cases.
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