Government to finalise pharma FDI policy soon
The announcement is expected to bring clarity on the road ahead.
New Delhi, August 12, 2013: The Government of India is planning to finalise the foreign investment policy on brownfield pharmaceutical projects, bringing in more transparency into the sector. It is expected that the discussion between the Prime Minister and the Ministry of Commerce along with other stakeholders will take place soon.
The Department of Industrial Policy and Promotion (DIPP) is in the process of finalising its FDI policy on brownfield pharma projects involving transfer of control.
It may be noted here that India permits 100 per cent FDI in the pharmaceutical sector through the automatic approval route in new projects, while foreign investment in existing pharma companies is allowed only with the Foreign Investment Promotion Board (FIPB) approval.