Paritosh's Feed
Oct 29, 2015

Once a month, India’s Modi steps in to revive stalled projects

NEW DELHI (Reuters) – Prime Minister Narendra Modi is personally taking on India’s notorious red tape to clear tens of billions of dollars worth of stalled public projects, hoping that his hands-on intervention can bend a vast, dysfunctional bureaucracy.

Once a month, Modi holds a meeting with top state and federal bureaucrats to check why projects have not got off the ground. Since March this year, his intervention has helped revive nearly $60 billion in federal and state projects, according to government data through September seen by Reuters.

Oct 29, 2015

Once a month, Modi steps in to revive stalled projects

NEW DELHI (Reuters) – Prime Minister Narendra Modi is personally taking on India’s notorious red tape to clear tens of billions of dollars worth of stalled public projects, hoping that his hands-on intervention can bend a vast, dysfunctional bureaucracy.

Once a month, Modi holds a meeting with top state and federal bureaucrats to check why projects have not got off the ground. Since March this year, his intervention has helped revive nearly $60 billion in federal and state projects, according to government data through September seen by Reuters.

Oct 27, 2015

Exclusive: India battles big pharma over cough syrup abuse, reducing supplies

NEW DELHI (Reuters) – Indian regulators are privately pressuring major drug firms to better police how they sell popular codeine-based cough syrups to tackle smuggling and addiction, a move that is reducing supplies of a medicine doctors say is an effective treatment.

India’s Cipla stopped making the product last year owing to regulatory demands, and U.S.-based Abbott Laboratories and Pfizer have had to reduce batch sizes by up to half, cutting how much medicine their factories can produce.

Oct 27, 2015

Exclusive – Abbott tangles with Indian regulators over cough syrup complaint

NEW DELHI (Reuters) – Drugmaker Abbott Healthcare is challenging West Bengal’s accusation that a sample of the company’s cough syrup contained excessive levels of codeine, the second multinational to question India’s regulatory testing regime in recent months.

Whether the sample of Abbott’s popular “Phensedyl” was a genuine product or a fake has not been established, but the suspect batch of 80,000 bottles has not been recalled.

Oct 27, 2015

Maldives president in control despite crisis: minister

NEW DELHI (Reuters) – Maldivian President Abdulla Yameen is in control of the government and enjoys broad support from his party and allies, the country’s foreign minister said on Tuesday, following rumors that dissidents were trying to unseat the government.

Yameen rose to power in a bitterly contested presidential election in 2013 and launched a crackdown on dissent, leading to further upheaval and protests on the Indian Ocean archipelago of 400,000, best known for its tourist resorts.

Oct 27, 2015

India to press drug firms to tackle cough syrup abuse

NEW DELHI (Reuters) – India plans to step up pressure on pharmaceutical companies to better police supplies of codeine-based cough syrups, concerned the firms have not yet fully complied with directives more than a year old, a finance ministry official said on Tuesday.

The International Narcotics Control Board ranks the abuse of medicines containing narcotics and their smuggling from India among the “greatest drug-related challenges” facing South Asia.

Oct 14, 2015

India battles big pharma over cough syrup abuse, reducing supplies

NEW DELHI, Oct 14 (Reuters) – Indian regulators are
privately pressuring major drug firms to better police how they
sell popular codeine-based cough syrups to tackle smuggling and
addiction, a move that is reducing supplies of a medicine
doctors say is an effective treatment.

India’s Cipla stopped making the product last year
owing to regulatory demands, and U.S.-based Abbott Laboratories
and Pfizer have had to reduce batch sizes by up
to half, cutting how much medicine their factories can produce.

Oct 13, 2015

Exclusive: India battles big pharma over cough syrup abuse, reducing supplies

NEW DELHI (Reuters) – Indian regulators are privately pressuring major drug firms to better police how they sell popular codeine-based cough syrups to tackle smuggling and addiction, a move that is reducing supplies of a medicine doctors say is an effective treatment. India’s Cipla (CIPL.NS: Quote, Profile, Research, Stock Buzz) stopped making the product last year owing to regulatory demands, and U.S.-based Abbott Laboratories (ABT.N: Quote, Profile, Research, Stock Buzz) and Pfizer (PFE.N: Quote, Profile, Research, Stock Buzz) have had to reduce batch sizes by up to half, cutting how much medicine their factories can produce.

But they are pushing back against other demands, a Reuters review of correspondence between companies and regulators showed, including selling one batch to only one buyer and printing labels that specify where the drug would be sold. Regulators want to make it easier for law enforcement agencies to track cough syrup abuse in the country and bottles smuggled to neighbouring Bangladesh, where it was banned in the 1980s but is still sought by addicts.

Oct 6, 2015

Risking backlash, Modi to push power price hikes

NEW DELHI (Reuters) – Prime Minister Narendra Modi is to tell states to raise electricity prices in return for access to a financial bailout package, a politically contentious move that risks a backlash from farmers and consumers long used to free or cheap power.

Modi has made overhauling India’s largely loss-making utilities, buckling under $66 billion of debts, a priority, convinced that if he can fix their finances he will recover his reputation as an economic reformer willing to take tough decisions.

Oct 6, 2015

Risking backlash, India’s Modi to push power price hikes

NEW DELHI, Oct 6 (Reuters) – India’s prime minister is to
tell states to raise electricity prices in return for access to
a financial bailout package, a politically contentious move that
risks a backlash from farmers and consumers long used to free or
cheap power.

Narendra Modi has made overhauling India’s largely
loss-making utilities, buckling under $66 billion of debts, a
priority, convinced that if he can fix their finances he will
recover his reputation as an economic reformer willing to take
tough decisions.