No change to foreign investment limit in India’s pharma industry
The Indian government has decided that there will be no change in its policy on foreign direct investment (FDI) in the pharmaceutical industry.
India has various rules governing FDI in different industries and had considered the proposal of the Ministry of Commerce and Industry for review of the policy on FDI in the pharmaceutical sector, which allows 100% FDI in both greenfield and brownfield projects. A proposal had sought to change it to 49%, with foreign investors made to direct 25% of their investments into R&D.
An official statement on Friday said: “The Cabinet decided that the current policy in brownfield and greenfield projects in the pharmaceutical sector will continue subject to the additional condition that in all cases of FDI in brownfield pharma, there will not be any non-compete clause in any of the inter se agreements.”
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