Foreign direct investment in the pharma sector has more than doubled to 1.07 billion dollar during April-August period, amid concerns over increasing acquisitions of domestic firms by multinationals.The latest data of the Department of Industrial Policy and Promotion said FDI in drugs and pharmaceuticals was 487 million dollar during April-August 2012. India allows 100 per cent FDI in pharma sector through automatic approval route in the new projects, but foreign investment in the existing companies are allowed only through the Foreign Investment Promotion Board approval.Other sectors which received high FDI during the period include services, automobile, construction, and chemicals.
News On AIR | November 18, 2013 7:48 PM
FDI in pharma swells to 1.07 bn dollar during April-Aug