Sun Pharma, US-based Rockwell Medical enter into licensing pact for Triferic

Sun Pharmaceutical Industries has entered into a licensing agreement with US-based Rockwell Medical to commercialise Triferic, an iron replacement and haemoglobin maintenance drug, in India.

"Sun Pharma announced that one of its wholly-owned subsidiaries has entered into exclusive licensing and supply agreements with Rockwell Medical Inc (Rockwell), to commercialise Rockwell's Triferic, a proprietary iron replacement and haemoglobin maintenance drug, for treating anaemia in hemodialysis patients in India," according to the drug firm's regulatory filing.

Under the agreement, Sun Pharma will be the exclusive development and commercialisation partner for Triferic during the term of the agreement, subject to its approval in India.

Currently, Triferic is the only USFDA-approved therapy available in the US which is used in replacing iron and maintaining haemoglobin in hemodialysis patients via dialysate during each dialysis treatment.

The filing didn't disclose the financial terms of the agreement due to confidentiality, but Rockwell is eligible for upfront and milestone payments as well as royalty on net sales.

"Triferic is an innovative anaemia therapy for the patients who are undergoing haemodialysis and offers a unique treatment option. Triferic will help Sun Pharma expand its portfolio in its core therapy areas," Sun Pharma CEO of India business Mr Kirti Ganorkar said.

According to the Global Burden of Disease Study 2017, chronic kidney disease was the tenth leading cause of mortality in India, having risen from 14th rank in 2007.

The shares of Sun Pharmaceutical Industries were trading at Rs 447.10 (US$ 6.39), up 0.25 per cent on BSE.
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Banks loan growth at 7.5 per cent in fortnight to Jan 2: RBI data

According to the Reserve Bank data, in the fortnight to January 2, the bank credit grew by 7.57 per cent reaching Rs 100.44 lakh crore (US$ 1.43 trillion) while deposits increased by 9.77 per cent to Rs 132.10 lakh crore (US$ 1.89 trillion). The banks loan in the year-ago period, stood at Rs 93.37 lakh crore (US$ 1.33 trillion) while deposits at Rs 120.33 lakh crore (US$ 1.72 trillion).

The credit had grown by 7.10 per cent reaching Rs 99.47 lakh crore (US$ 1.42 trillion) and deposits had increased by 10.09 per cent to Rs 130.08 lakh crore (US$ 1.86 trillion), in the previous fortnight ended December 20.

Though, banks' credit growth slowed to 7.2 per cent to Rs 86.73 lakh crore (US$ 1.24 trillion) in November 2019 from 13.8 per cent to Rs 80.93 lakh crore (US$ 1.15 trillion) in the year-ago period.

For the industry, loan growth decreased to 2.4 per cent at Rs 27.72 lakh crore (US$ 396.6 billion) in November from 4 per cent in the corresponding month of 2018.

In November 2019, credit to agriculture and allied activities slowed to 6.5 per cent from 7.7 per cent last year. There was sharp decrease in the services sector to 4.8 per cent from 28.1 per cent last year.

Personal loans witnessed a marginally growth at lower rate of 16.4 per cent in November 2019 as compared with 17.2 per cent, according to the RBI data.

Rating agency ICRA in its recent report had said credit expansion may drop to a six-decade low of 6.5-7 per cent in 2019-20 compared to 13.3 per cent in the previous financial year.
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NHAI records highest daily toll collection at Rs 86.2 crore

National Highways Authority of India (NHAI) recorded highest Rs 86.2 crore (US$ 12.33 million) daily toll collection on January 12th, 2020, according to its Chairman Mr Sukhbir Singh Sandhu.

In January 2020, the highest daily toll collection via electronic system of FASTags was also recorded at Rs 50 crore (US$ 7.15 million) (single day collection) as compared to Rs 23 crore (US$ 3.29 million) in November 2019.

"The NHAI has recorded its highest toll collection on a daily basis at Rs 86.2 crore (US$ 12.33 million) two days back," Mr Sandhu said at National Highways Excellence Award 2019.

There has been increase in the daily transactions via FASTags reaching around 30 lakh per day in January 2020 from mere 8 lakh in July 2019.
He added that around 91 per cent of toll collection is taking place via FASTags in the Jodhpur toll plaza in Jaipur region, thus, it is outperforming others in implementation of FASTags.

He further added that Bhopal and Gandhinagar toll plazas have also performed well in FASTag implementation.

As of December 2019, around 1 crore FASTags have been issued with over 30 lakh FASTags issued in November and December, following daily sales of 1.5-2 lakh FASTags.

The government made the FASTag-based electronic toll collection mechanism mandatory from December 15 cross all toll plazas of the NHAI where at least 75 per cent lanes were restricted to the use cash mode of payment to a maximum of 25 per cent lanes of toll plazas.

FASTags-based toll collection system was introduced across over 527 national highways.

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Coffee exports in 2019 up marginally at 3.50 lakh tonne

According to the Coffee Board, coffee exports from India had increased to 3.50 lakh tonne in 2019 as compared 3.48 lakh tonne in the previous year.

India is the 3rd largest producer and exporter of coffee in Asia region. Countries like Italy, Germany and Russia were the major export destinations for Indian coffee last year. India ships both Robusta and Arabica varieties, besides instant coffee.

The board's data indicated that Robusta coffee exports rose 4.10 per cent to 1,86,360 tonne in 2019 from 1,79,004 tonne in 2018. However, exports of Arabica coffee witnessed a decline of 10.75 per cent to 47,341.82 tonne in 2019 from 53,049 tonne in 2018.

As compared to previous year, the outbound shipment of instant coffee fell to 27,339 tonne in 2019 from 29,146 tonne, the data showed. India exported 72,267 tonne to Italy, 37,175 tonne to Germany and 28,573 tonne to Russia in 2019, of the total coffee exports.

Some of the major exporting companies include CCL Products India, Tata Coffee, NKG India Coffee, Allanasons Pvt Ltd, Olam Agro and Coffee Day Global Ltd. Coffee production is estimated to be slightly higher at 3,19,500 tonne for the 2018-19 crop year (October-September), as per the post monsoon forecast by the Board.
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I&B Minister Shri Prakash Javadekar confers First Antarrashtriya Yoga Diwas Media Samman to 30 media houses

The Minister for Information and Broadcasting, Environment, Forests and Climate Change, Shri Prakash Javadekar, today conferred the First Antarrashtriya Yoga Diwas to 30 media organizations, at an event in National Media Centre, New Delhi.

Addressing the gathering, Shri Javadekar described the award as a unique honour to media organizations that contributed to the spread of Yoga for the benefit of society. Appreciating the efforts of various media organizations, the Minister said that this event, the first of its kind, also marks a new trend of recognition of the endeavour of media organizations that go beyond news, views and advertisements, and work in mission mode for the larger benefit of society.

Shri Javadekar recalled that Lokmanya Tilak had launched the newspaper "Kesari" as a medium to generate awareness towards "Swarajya". Today, he said, media organizations are creating greater public awareness towards "Suraaj" - where good healthcare, education, and civic amenities are available to all. He described this as a sign of India's mature democracy.

Shri Javadekar described Yoga as the biggest key to preventive healthcare. Shri Javadekar mentioned that Yoga - an Indian brand - has gained global respect due to the vision and efforts of Prime Minister Narendra Modi. He recalled that the United Nations supported with overwhelming majority, India's proposal for an International Day of Yoga. The Minister congratulated and thanked both the awardees and the Jury members.

Speaking on the occasion, the Union Minister of State (Independent Charge) for AYUSH, Shri Shripad Yesso Naik, congratulated the I&B Minister Shri Prakash Javadekar for the successful conduct of this new initiative of Yoga Diwas Media Samman. He described Yoga as an ancient heritage of our civilization, through which one can attain mental and physical well-being.

In his address, the Chairman of the Jury, and Chairman, Press Council of India, Justice C.K. Prasad, described Yoga as an investment with zero risk and considerable benefit. Earlier, in his welcome address, Shri Vikram Sahay, Joint Secretary in the Ministry of Information and Broadcasting, said that these awards are an attestation of the strong belief in the freedom of press, and the crucial role which media plays in disseminating information and creating awareness among the people on various aspects of social and public life.

Secretary, Information and Broadcasting, Shri Ravi Mittal, Additional Secretary Shri Atul Tiwari, and several other senior officials of the Ministries of I&B, and AYUSH, were present on the occasion.
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SMEs must strive to produce World Class Products; GeM to handhold Women Entrepreneurs in SME Manufacturing - Piyush Goyal

The Micro Small and Medium Enterprises (MSME) sector has better adaptability to cater to the export market due to its smaller size and can adapt to market change sooner said Union Minister of Commerce and Industry & Railways, Piyush Goyal, during a meeting held in New Delhi yesterday to discuss with MSME associations various industry issues and examine the steps that may be taken to resolve them.

Many issues pertaining to the MSME sector were put up for discussion with the Commerce and Industry Minister by MSMEs through the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI), the Associated Chambers of Commerce and Industry of India (ASSOCHAM), SME Chamber of India and PHD Chamber of Commerce and Industry. The most important issues that were discussed in the meeting included the problem faced by SME units in accessing credit from banks, delay in payments from Public Sector Units and Government departments, the issue of GST refund, the dearth of skilled manpower in the SME sector and the issue of differing wages in States across the country.

The MSME sector in India employs over 100 million people and accounts for 45 per cent of manufacturing output and more than 40 per cent of the country's exports. With 63.4 million units throughout the country, MSMEs contribute around 6.11 per cent of the manufacturing GDP and 24.63 per cent of the GDP from service activities.

Commerce and Industry Minister directed Small Industries Development Bank of India (SIDBI) and the Credit Guarantee Funds Trust for Micro and Small Enterprises (CGTMSE) to set up a framework that will enable them to process loans to SME units faster and also provide insurance cover to the SME exporters.

Commerce and Industry Minister urged the SME sector manufacturers to produce high quality goods following international standards so that exports from the SME sector may become a part of the global value chain.

On the issue of delayed payments, Commerce and Industry Minister examined the possibility of big companies making full payment to SMEs against delivery so that working capital of SME units are not blocked.

In order to mainstream the 8 million Indian women who have started and are running their own businesses Minister directed that the Government e-Marketplace may handhold the women led SMEs and onboard these enterprises on the GeM portal.

Commerce and Industry Minister assured the SME sector that the Government will give all support and help in the skilling of manpower required for the sector and in all other areas that requires intervention of the Ministry of Commerce and Industry.
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India's per-capita income rises 6.8 per cent to 11,254 a month in FY20

During 2019-20, India's per-capita monthly income is estimated to have increased by 6.8 per cent to Rs 11,254 (US$ 161.02), according to the Government data on national income.

The monthly per-capita income in 2018-19 stood at Rs 10,534 (US$ 150.72).

"The per-capita net national income during 2019-20 is estimated to be Rs 1,35,050 showing a rise of 6.8 per cent as compared to Rs 1,26,406 during 2018-19 with the growth rate of 10.0 per cent," according to the annual national income and GDP 2019-20 data released by the Ministry of Statistics and Programme Implementation (MoSPI).

The per-capita income is an important indicator that shows the prosperity of a country.

According to first advance estimates of the national income released by the National Statistical Office, poor performance of manufacturing and construction sectors is estimated to decrease the country’s economic growth to 11-year low of 5 per cent in 2019-20.
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ICSI to open 10 international offices next year

Institute of Company Secretaries of India (ICSI) is planning to open international offices in at least 10 countries by next year, ICSI president Mr Ranjeet Pandey said.

Mr Pandey told the sources that there was need for more offices abroad as more company secretaries are moving to various countries.

Currently, the institute has two overseas branched and plans to open an office in London in the foreseeable future, Pandey said.

ICSI will first enter into memorandums of understanding with similar institutes in other countries and would open offices in a phased manner, he said.

The institute has entered into an agreement with Bharathiar University for awarding university toppers in the commerce stream with ICSI Signature Award and certificate, Pandey said at the Convocation-2019 of the Southern Region.
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Metro AG India sales rise 10% to Rs 6,755 crore

World's fourth-largest retailer 'Metro AG', posted 10 per cent growth in net sales at Rs 6,755 crore (US$ 966.52 million) in India in the year ended September, helped by aggressive push for own labels also increased the memberships of kirana stores in market where neighborhood stores account for nine of ten consumer items sold.

As per the annual report, the company had a sale of Rs 6,140 crore (US$ 878.52 million) in previous year.

Dusseldorf-based Metro does not sell the products directly to consumers in India and operating as an organized wholesaler/cash-and-carry operator who sell around 7,000 products to local stores, hotels and catering companies across the array of categories.

"We have focused on building a profitable and sustainable business in India through a culture of customer centricity. Currently, 78 per cent of our customers are repeat buyers who contributed to 86 per cent of our sales in FY2018-19," said Mr Arvind Mediratta, managing director at Metro Cash & Carry India.

Metro entered in India in 2003 and is the market leader in organised trade with 27 stores. The company considers Walmart as its closest rival that too operates as a wholesale but also acquired Flipkart two years ago at US$ 16 billion two years ago. Walmart saw its revenue increase 11 per cent to Rs 4,065 crore (US$ 581.63 million) for the fiscal ended March 31, while net losses almost doubled to Rs 172 crore (US$ 24.61 million).
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AAI to set up India's first three water aerodromes in Andaman & Nicobar

Airports Authority of India (AAI) plans to develop three first-of-its-kind water aerodromes in Andaman & Nicobar Islands. Currently, AAI is in the process of obtaining environmental clearance from the Ministry of Environment, Forest and Climate Change.

These water aerodromes are planned in Long Island, Swaraj Island and Shaheed Island with a total investment of Rs 50 crore (US$ 7.15 million) and clearance for preparing the Terms of References (ToR) is required separately for three airports.

These airports are part of the ten water aerodromes that the Centre plans to develop.

"It was recommended that 'ToR' along with Public Hearing prescribed by the Expert Appraisal Committee (Infrastructure-2) should be considered for preparation of EIA/EMP report for the above mentioned project in addition to all the relevant information as per the 'Generic Structure of EIA' given in Appendix III and IIIA in the EIA Notification, 2006," said an Expert Appraisal Committee under the ministry.

"The draft EIA/EMP report shall be submitted to the State Pollution Control Board for public hearing. The issues emerged and response to the issues shall be incorporated in the EIA report," it added.

It is estimated that the incoming of tourists at proposed project locations will lead to increase in tourism and hotel business at local level. This will also create job opportunity for local people there.

These water aerodromes will provide in increase in level of current social infrastructural facilities of the islands, the EAC said.

The invitation of bids for three unserved airports/airstrips in Andaman & Nicobar Islands, and one underserved airport in Lakshadweep Island under the fourth round of the regional air connectivity scheme has been sent out, according to the civil aviation ministry.

Last year, licensing norms for water aerodromes, where amphibian planes can land and takeoff were issued by Director General of Civil Aviation.
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