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India.com
2 days ago
- Business
- India.com
'We don't need your money': India to China on investment; 'There is no plan from the Modi government to...,' says source
New Delhi: India and China's relations are going through ups and downs. Recently there has been some improvement in the relations between the two countries. It is another matter that the government is not in the mood to lift the ban on investment coming from China. Sources have given this information. According to them, there is no plan from the Modi government to review Press Note 3. Press Note 3 says that investment coming from countries sharing land border with India will have to get approval from the government in every case. What is India's response to China? This is a clear message for the Dragon. It shows that for India its security is of paramount importance. Until it is assured, it cannot take the risk of opening the doors for China. According to a source, this is still a very early stage. There has been no talk so far about relaxing Press Note 3. At present, the possibility of doing so is also low. Finance Minister Nirmala Sitharaman had indicated the need for more access and dialogue between the two countries for economic cooperation. But, at the same time, she also stressed on exercising 'caution'. In a program, she said that both the countries want to have more dialogue with each other for economic cooperation. But this has to be done carefully. When was India's FDI policy changed? In April 2020, the government changed the Foreign Direct Investment (FDI) policy. This change was made through Press Note 3 of 2020. According to this, if a company is from a country sharing land border with India or the owner of that company lives in such a country or is a citizen of that country, then it will have to invest through the government only. Even if the ownership of such a company is transferred to a company in India, government approval is necessary. What is India's message to China? There has been tension in the relations between India and China since the conflict in the Galwan Valley in 2020. Press Note 3 was initially implemented to protect companies during the pandemic. But now it is working as an important weapon of national security. The government wants to ensure that there is no threat to national interests and security even while restoring economic relations. India wants to explore opportunities for economic cooperation with China. It is very keen to increase investment especially in areas like electronics manufacturing. But it is also cautious about China's geostrategic intentions. The continuation of Press Note 3 is an attempt to maintain this balance.
Al Etihad
2 days ago
- Business
- Al Etihad
Abu Dhabi Real Estate Centre records Dh51.7bn+ in real estate transactions in H1 2025
28 July 2025 12:01 ABU DHABI (ALETIHAD)The Abu Dhabi real estate sector delivered outstanding performance in the first half of 2025, with the total real estate transaction value increasing by 39 per cent compared to the same period in total value reached Dh51.72 billion, up from Dh37.2 billion last year, according to data released by the Abu Dhabi Real Estate Centre (ADREC).The number of property transactions increased by 12 per cent, reaching 14,167 deals, reflecting accelerated market activity underpinned by notable increases in sales, purchases, and mortgage and purchases transactions grew 32 per cent in value, reaching Dh32.69 billion through 7,964 transactions, while mortgage transactions recorded a significant 52 per cent increase in value, amounting to Dh19.03 billion through 6,204 first half of the year witnessed increased interest from international investors. Foreign Direct Investment (FDI) transactions reached 890, a 3.3 per cent increase in total value, amounting to Dh3.38 billion. The number of nationalities who invested grew to 85, up 10 per cent compared to the same period last year, underscoring the growing global confidence in Abu Dhabi's real estate market attracted strong interest from investors from major and emerging economies including Russia, China, the United Kingdom, France, Kazakhstan and the United States, which reflects Abu Dhabi's position as a global investment hub that combines economic stability with high-quality terms of transaction values by area, Saadiyat Island maintained its lead at more than Dh9.1 billion, followed by Yas Island at Dh5.86 billion, and Al Bahia at Dh3.98 locations that recorded strong transactions included Mohammed Bin Zayed City, Al Reem Island, Al Riyadh City, and Khalifa City, highlighting the broad geographic spread of real estate activity across the Al Omaira, Acting Director General of ADREC, said: 'The first-half performance reflects the growing confidence in Abu Dhabi's real estate market, from both global and national investors, reflected in the sustained growth in transaction values and continued increase in foreign investment. The recent launch of high-quality projects has further energised the market and opened doors to attractive investment opportunities, reinforcing Abu Dhabi's attractiveness as a leading destination for sustainable real estate investment. "Additionally, the initiatives ADREC recently launched and the facilitations it offered, including automation of a large number of processes and services, had a pivotal role in reaching this achievement, through streamlining the investor's journey, accelerating transactions and enhancing transparency.' ADREC continues to advance its legislative framework and enhance the user experience in line with the emirate's economic ambitions, strengthening its regional and global competitiveness. Source: Aletihad - Abu Dhabi
Hans India
2 days ago
- Business
- Hans India
NRIs AP's brand ambassadors
Singapore: "Youare all aware of the extent to which Andhra Pradesh was devastated during the five-year YSRCP rule, and you can see how hard the coalition government is working for reconstruction. The global trust in Chandrababu is our capital," stated Minister for Education, IT and Electronics Nara Lokesh. Lokesh called upon the Telugu diaspora to promote opportunities within the state and attract investments. Minister Lokesh was the chief guest at the Telugu Diaspora meeting organised by APNRT at the OVUS Auditorium in Singapore. Addressing the gathering, Lokesh declared: "NRIs are our brand ambassadors; all NRIs must become partners in the state's development." He emphasized the crucial role of foreign investments in India's economy, noting that Singapore contributes a significant portion of these investments. "Of the total $81.04 billion in Foreign Direct Investments (FDI) India received in the 2024-25 fiscal year, approximately $14.94 billion came from Singapore, accounting for 19 percent of total FDI," he highlighted. "If a large share of these investments comes to AP, our state will become another Singapore," he added. Lokesh assured the Telugu community in Singapore, Malaysia, Thailand, Vietnam, the Philippines, Hong Kong, Indonesia, Jakarta and Bali that the government is there to support them in any hardship. "Through APNRT, we are not only resolving your issues but also working to protect our Telugu language, culture, and traditions," he said. He lauded the enthusiasm of the Telugu community in Singapore. "From landing at the airport to this diaspora meeting, wherever I look, I see Telugu people. I wondered if I was in Singapore or Simhachalam," he quipped. He playfully redefined the term NRI. "Everyone calls you NRIs, or Non-Resident Indians. But in my heart, you are always MRIs – Most Reliable Indians." Lokesh asserted that the TDP was founded for the self-respect of Telugus, which was upheld by the legendary actor and Sarvabhouma, late Sri Nandamuri Taraka Rama Rao. He stated that with the Quantum Valley, the world will look towards AP. "Giants like TCS, Cognizant, ANSR, Satva, Sify, and Google are coming to AP. Prestigious educational institutions like SRM, VIT, and Amrita have already arrived, and BITS Pilani will soon be joining them." He highlighted skill development programmes to help people seize opportunities abroad. "We will also encourage MSME companies, as 80 percent of jobs worldwide come from MSMEs." He shared that Tata Group Chairman Chandrasekaran stated that 35 per cent of TCS employees are Telugus, which is why they are coming to AP.
Time of India
6 days ago
- Business
- Time of India
Duty relief to boost pharma companies' access to UK drug stores
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The India-UK FTA is expected to give a strong tailwind to India's pharmaceutical and medical devices sectors with tariff relief and smoother regulatory pathways acting as critical drivers, industry experts told agreement will boost exports giving an easier access to the UK market. It is expected to help Indian companies - especially those in generics and biosimilars - to scale their market presence, fast track product approvals, provide a push to cross-border R&D and UK has committed to zero tariff on nearly 99% of Indian pharma exports. While Indian pharma exports to the UK were largely duty free even earlier, the latest agreement formalises the status which brings in long-term clarity to to industry estimates, the pharma market size of the UK stands at about $45 billion and is expected to shoot to $73 billion by 2033. The share of the Indian drugs can see a significant push from the UK's generics segment which is currently pegged at $5 pharmaceutical exports to the UK crossed $910 million in FY24, according to estimates."The agreement strengthens supply chains , enhances access to affordable medicines , and drives Foreign Direct Investment (FDI)," said Namit Joshi, Chairman of Pharmexcil."This partnership paves the way for collaborations in bulk drug imports, CDMO (contract manufacturing), and joint research, empowering India's competitive edge and promoting global partnerships."The pact will open up trade and economic opportunities between the two countries. "The pharma sector will have opportunities to supply quality medicines contributing to better patient care in the UK," said Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance."The tariffs relief on generic medicines and key medical devices like surgical instruments and diagnostics under the FTA will enhance the affordability and appeal of Indian products in the UK market," said Manoj Mishra, Partner and Tax Controversy Management Leader, Grant Thornton Bharat. The move significantly boosts the competitiveness of Indian generics and high-quality affordable healthcare solutions, positioning India to scale its footprint in one of Europe's most valuable healthcare markets, said the medical devices sector too the move is expected to open new opportunities, said experts.
Economic Times
6 days ago
- Business
- Economic Times
India-UK FTA prescribes a booster dose for Indian pharma and medtech exports
Representational The India-UK free trade agreement (FTA) is expected to give a strong tailwind to India's pharmaceutical and medical devices sectors with tariff relief and smoother regulatory pathways acting as critical drivers, industry experts told ET. The agreement will boost exports giving an easier access to the UK market. It is expected to help Indian companies – especially those in generics and biosimilars - to scale their market presence, fast track product approvals, provide a push to cross-border R&D and innovation. The UK has committed to zero tariff on nearly 99% of Indian pharma exports. While Indian pharma exports to the UK were largely duty free even earlier, the latest agreement formalises the status which brings in long-term clarity to to industry estimates, the pharma market size of the UK stands at about $45 billion and is expected to shoot to $73 billion by 2033. The share of the Indian drugs can see a significant push from the UK's generics segment which is currently pegged at $5 billion. India's pharmaceutical exports to the UK crossed $910 million in FY24, according to estimates. "The agreement strengthens supply chains, enhances access to affordable medicines, and drives Foreign Direct Investment (FDI),' said Namit Joshi, Chairman of Pharmexcil. 'This partnership paves the way for collaborations in bulk drug imports, CDMO (contract manufacturing), and joint research, empowering India's competitive edge and promoting global partnerships.'The pact will open up trade and economic opportunities between the two countries. 'The pharma sector will have opportunities to supply quality medicines contributing to better patient care in the UK,' said Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance. 'The tariffs relief on generic medicines and key medical devices like surgical instruments and diagnostics under the FTA will enhance the affordability and appeal of Indian products in the UK market,' said Manoj Mishra, Partner and Tax Controversy Management Leader, Grant Thornton Bharat. The move significantly boosts the competitiveness of Indian generics and high-quality affordable healthcare solutions, positioning India to scale its footprint in one of Europe's most valuable healthcare markets, said Mishra. For the medical devices sector too the move is expected to open new opportunities, said experts. 'Previously, medical devices imported into the UK were duty-free, so tariff restrictions were not an issue but regulatory approval costs and time (delays) were a challenge,' said Rajiv Nath, forum coordinator, Association of Indian Medical Device Manufacturers (AiMeD), an umbrella organisation representing manufacturers of various medical devices in medical devices exports to the UK stood at Rs 1,015 crore in fiscal 2024, up 13% from a year ago. Imports of medical devices to India was at Rs 2,295 crore, up 36% from the previous are of the view that the FTA seeks to keep a balance between India's current IP regime with public health and the UK's preference of protecting various IP rights. Sandeep Rathod, Sr. VP (legal and compliance), Piramal Pharma, said: 'In context of geographical Indications, both sides will be bringing together a list of products that will be protected with equity and transparency as key principles.' 'Within patents, India's important safeguards such as S.3(d) and oppositions have not been tampered with. This should help India's status as the world's generic manufacturer and also protect access to medicines for domestic patients.' 'UK is an important market. The real value is the potential positive impact on our other trade deals coming up such as with the EU and US,' said Sujay Shetty, global health advisory leader at consulting firm PwC.
