South Korean co to open cancer diagnosis kit unit in Ujjain, land allotted
Indore: Madhya Pradesh Industrial Development Corporation (MPIDC) allocated 15 acre of land to a South Korean firm to set up a state-of-the-art manufacturing unit for affordable cancer diagnosis kits at Medical Device Park in Ujjain.
Tired of too many ads? go ad free now
The project proposed by the South Korean company
E-Fiber Group
, backed by a foreign direct investment (FDI) of Rs 209 crore, aims to produce 50 lakh in-vitro diagnostic (IVD) kits and 1 crore related products each month. The group will work on the design, manufacturing, supply, and servicing of these diagnostic kits, which are critical for detecting cancer at its early stages.
The innovative technology, which utilises urine samples, promises to offer a simple and convenient option for patients, facilitating early cancer detection.
The products will incorporate advanced nano-fibre and cellulose-based biopolymers, known for their effectiveness in cancer prevention.
MPIDC Ujjain executive director Rajesh Rathod said, "With FDI investment from E-Fiber Group in Ujjain's Medical Device Park, the industrial landscape of the state will transform. The project will accelerate economic growth and pave way for better healthcare services for millions of people, while also strengthening the state's self-reliance in crucial areas like healthcare and cancer diagnosis."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Skydeck project now shifted from Bangalore University campus to Kempegowda Layout
Bengaluru: After months of deliberations and multiple location changes, the state govt has finalised Nadaprabhu Kempegowda Layout (NPKL) near Kengeri in the city as the site for its ambitious 250-metre-tall skydeck, set to be South Asia's tallest observation tower. Various sites, including Bangalore University's Jnanabharathi campus, were considered earlier for the project, aimed at transforming Bengaluru's skyline and boosting tourism under the Brand Bengaluru initiative. However, keeping in mind the possible disturbance to academic activities at Jnanabharathi due to increased tourist footfalls, the govt finalised NPKL. Initially, BBMP had written to the higher education minister and the Bangalore University vice-chancellor, seeking the transfer of 25 acres on the Jnanabharathi campus to construct the skydeck. The proposal had the state govt's backing and included a revenue-sharing offer with the university. However, the plan met with resistance from academicians and environmentalists. A senior BBMP official said, "The campus houses thousands of students. A tourist-heavy commercial project could disrupt the academic atmosphere and compromise student safety." Amid these concerns, the govt explored other locations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CFD: Invertir $100 con IA podría devolverte un segundo salario Digital Group Prueba ahora Undo Sites like NGEF (Benniganahalli), Karnataka Soaps and Detergents Limited (KSDL) at Yeshwanthpur, and Kommaghatta were ruled out due to height restrictions imposed by Hindustan Aeronautics Limited (HAL), which oversees aviation safety in Bengaluru. Subsequently, Hemmigepura near NICE Road emerged as a strong contender, especially due to its accessibility and land availability. The skydeck was initially announced here. But objections from the ministry of civil aviation and the Airports Authority of India (AAI)—which warned about potential interference with flight paths—forced the govt to backtrack. Deputy chief minister DK Shivakumar confirmed the final location this week, citing regulatory and logistical advantages. "We've decided to build the skydeck in Kempegowda Layout on land owned by the Bangalore Development Authority (BDA). It avoids aviation-related restrictions and is expected to get Metro connectivity in the near future," the Bengaluru development minister said. "With both Hemmigepura and Jnanabharathi no longer viable, the govt returned to the drawing board and finalised Kempegowda Layout, which not only meets the aviation clearance norms but also allows a quick acquisition of land which is already under BDA's control," added a senior BBMP official. The skydeck idea came up after Shivakumar's visit to Edge — the famous observation deck in New York City. Since then, it has been envisioned as a cultural and economic landmark for Bengaluru. Officials say while the initial cost was pegged at Rs 250 crore, revised estimates suggest the final cost could reach Rs 500 crore. A revenue-sharing model is being planned to ensure financial sustainability, especially since the new site is fully govt-owned. "Unlike the university land, the BDA site has no legal or academic encumbrances. This allows us to move swiftly," said the senior bureaucrat.
Time of India
an hour ago
- Time of India
GST collections up 16%, fastest since Oct 2022
Goods and Services Tax (GST) NEW DELHI: Goods and services tax (GST) collections rose 16.4% to Rs 2,01,050 crore in May, the fastest pace of expansion since Oct 2022, on the back of a jump in taxes on imports. Latest data estimated that during May (for transactions in April), GST collections from imports rose 25.2% to Rs 51,266 crore, while the mop-up from domestic sources, which is almost three-fourths of the overall kitty, was 13.7% higher at just under Rs 1.5 lakh crore. Imports during April had shot up 19% to nearly $65 billion due to a spike in crude oil and fertiliser shipments, among other things. "A 16% growth in GST collections shows a renewed upward momentum after few months of growth in the range of 11% to 12%. If the growth continues in this range for next couple of months, it might provide the cushion for govt to look at rate rationalisation on which a lot of work has already been done," said Pratik Jain, partner at consulting firm PwC. Last week, govt sources indicated that the finance ministry is working with the states to rationalise GST rates with a review of the slabs on the table. On a net basis, collections were 20.4% higher at Rs 1,73,841 crore as refunds were 4% lower at Rs 27,210 crore, despite domestic refunds soaring 53.7% to Rs 18,314 crore. There was, however, wide variation among the states. Arunachal Pradesh (53%), Nagaland (46%) and Delhi (38%) topped the growth charts, with Tamil Nadu (25%), Kerala (24%), Bihar (23%) and Karnataka (20%) in the middle. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo At the other end, were Andhra (2% dip), Uttarakhand (13% decline) and Mizoram (26% fall) which reported lower collections. "The average growth across the country does not appear to be uniformly reflected across states, possibly due to sectoral or seasonal factors, which require a deeper data based analysis, said M S Mani, partner for indirect taxes at Deloitte India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
- Time of India
Bank loans to NBFCs slows sharply
MUMBAI: Bank lending to non-banking finance companies slowed sharply in April, with outstanding loans to the sector falling by Rs 25,512 crore to Rs 16.1 lakh crore. At the end of March 2025, bank credit to NBFCs stood at Rs 16.4 lakh crore, marking a modest growth of 5.7% in FY25. This was significantly lower than the overall bank credit growth of 11% during the year, to Rs 182 lakh crore, indicating a cooling in lending appetite toward shadow banks. The slowdown in credit to NBFCs was part of a broader trend. Lending to large industries also moderated in April. The share of loans to large corporates declined to 15% of total bank credit, down from 16% at the end of March 2024. In comparison, housing loans now account for a larger share at 16.6%, underlining the shift in bank lending preferences toward the retail segment. Overall, the industry's share in total bank credit fell to 21.4% from 22% a year ago. Bank loans to individuals against gold jewellery continued to grow adding Rs 3,427 crore during April 2025 taking the total outstanding to Rs 2.2 lakh crore. In FY24, bank loans against jewellery had risen 103% to Rs 2.08 lakh crore a large part of which was due to reclassification of gold-backed agri loans. Data from 41 major scheduled commercial banks, which account for about 95% of all non-food credit, showed that year-on-year bank credit growth stood at 12% in the fortnight ended March 21, 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo This was lower than the 16.3% growth recorded in the same period last year, reflecting a broad deceleration in credit expansion. Credit to agriculture and allied activities grew by 10.4% in March 2025, compared to 20% in the corresponding period last year. Lending to industry rose by 8%, the same as the previous year. While sectors such as petroleum, metal products, engineering, and construction saw higher credit offtake, lending to infrastructure slowed. The services sector also saw a deceleration, with credit rising by 13.4%, down from 20.8% a year earlier. This was mainly due to a sharp slowdown in bank loans to NBFCs, although credit to professional services and trade remained robust. In the personal loan segment, growth eased to 14% from 17.6% in the previous year. The deceleration was mainly due to lower growth in vehicle loans, credit card outstandings and other personal loans, indicating a cooling in consumer demand for credit. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
