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New Indian Express
26 minutes ago
- New Indian Express
NTR district sets Rs 18.23 lakh crore GDP target under Swarnandhra Vision
VIJAYAWADA: NTR District In-charge Minister Y Satya Kumar Yadav announced that draft plans for the development of Vijayawada and other constituencies were prepared based on available resources, with a target of Rs 18.23 lakh crore Gross Domestic Product (GDP). At a review meeting held in Vijayawada on Saturday, the Minister, along with MP Kesineni Sivanath, MLAs Gadde Rammohan, Bonda Umamaheswara Rao, Sriram Rajgopal, Kolikapudi Srinivasa Rao, and Collector G Lakshmisha, discussed progress under the Swarnandhra P4 ('Public, Private, People Partnership) Foundation. They reviewed key sectors including agriculture, industry, services, tourism, food processing, zero-budget natural farming, Farmer Producer Organisations (FPOs), and mechanisation. During the meeting the NTR District In-charge Minister stated, 'P4 is a key chapter in good governance,' and added that implementation will align with Swarnandhra goals through regular reviews. Saty Kumar Yadav said the district's per capita income in 2023–24 stood at Rs 3,21,651, with targets of Rs 6,38,946 by 2028–29 and Rs 1,10,0000 by 2047–48. Swachh Andhra Corporation Chairman K Pattabhiram, Krishna District Cooperative Central (KDCC) Chairman Nettem Raghuram, Joint Collector S Ilakkiya, and Vijayawada Municipal Corporation (VMC) Commissioner Dhanachandra HM also took part in the review meeting.
Mint
31 minutes ago
- Mint
Pharma firms likely to post 11% growth in sales, EBITDA in Q1FY26: Report
New Delhi [India], July 6 (ANI): Pharmaceutical firms are expected to post 11 per cent year-on-year growth in both sales and EBITDA for the first quarter of Financial Year 2026 (Q1FY26), driven by sustained momentum across most markets, according to a report by Kotak Institutional Equities. However, the report added that the muted domestic demand in April and March may slightly offset gains. The hospitals segment is projected to see robust 17 per cent year-on-year growth in both sales and EBITDA, supported by increased footfalls, new bed additions, and a modest rise in ARPOB. In diagnostics, volume growth, better mix, and M&A activity are expected to contribute to a 14 per cent YoY sales increase across the coverage. "For pharma companies, we expect continued traction across most markets to drive 11%/11% yoy growth in overall sales/EBITDA in 1QFY26," the report added. India's pharmaceutical market for FY 2023-24 is valued at USD 50 billion with domestic consumption valued at USD 23.5 billion and export valued at USD 26.5 billion. The domestic pharma industry is considered to be the world's third largest by volume and 14th in terms of value of production. With an extremely diversified product base covering generic drugs, bulk drugs, over-the-counter drugs, vaccines, biosimilars, and biologics, the Indian pharmaceutical industry has a strong presence at the global level. According to National Accounts Statistics 2024, published by the Ministry of Statistics and Programme Implementation, total output for industry i.e. Pharmaceuticals, medicinal and botanical products is Rs. 4,56,246 crores for FY 2022-23 at constant prices, of which value added is ₹ 1,75,583 crores. As per government data 9,25,811 number of persons are engaged in Pharmaceuticals, medicinal and botanical products industry during FY 2022-23. Research & Development (R&D) and innovation in Pharma Sector is done by number of institutions and organizations under various scientific Ministries/Departments. The Department of Pharmaceuticals has set up seven National Institutes of Pharmaceutical Education & Research (NIPERs) as institutes of national importance, which besides imparting postgraduate and doctorate education, conduct high end research in various pharma specializations. Further, Department has framed a "National Policy on Research & Development and Innovation in Pharma-MedTech Sector in India" to encourage R&D in pharmaceuticals and medical devices.
Mint
33 minutes ago
- Mint
Pharma firms likely to post 11% growth in sales, EBITDA in Q1FY26: Report
New Delhi [India], July 6 (ANI): Pharmaceutical firms are expected to post 11 per cent year-on-year growth in both sales and EBITDA for the first quarter of Financial Year 2026 (Q1FY26), driven by sustained momentum across most markets, according to a report by Kotak Institutional Equities. However, the report added that the muted domestic demand in April and March may slightly offset gains. The hospitals segment is projected to see robust 17 per cent year-on-year growth in both sales and EBITDA, supported by increased footfalls, new bed additions, and a modest rise in ARPOB. In diagnostics, volume growth, better mix, and M&A activity are expected to contribute to a 14 per cent YoY sales increase across the coverage. "For pharma companies, we expect continued traction across most markets to drive 11%/11% yoy growth in overall sales/EBITDA in 1QFY26," the report added. India's pharmaceutical market for FY 2023-24 is valued at USD 50 billion with domestic consumption valued at USD 23.5 billion and export valued at USD 26.5 billion. The domestic pharma industry is considered to be the world's third largest by volume and 14th in terms of value of production. With an extremely diversified product base covering generic drugs, bulk drugs, over-the-counter drugs, vaccines, biosimilars, and biologics, the Indian pharmaceutical industry has a strong presence at the global level. According to National Accounts Statistics 2024, published by the Ministry of Statistics and Programme Implementation, total output for industry i.e. Pharmaceuticals, medicinal and botanical products is Rs. 4,56,246 crores for FY 2022-23 at constant prices, of which value added is ₹ 1,75,583 crores. As per government data 9,25,811 number of persons are engaged in Pharmaceuticals, medicinal and botanical products industry during FY 2022-23. Research & Development (R&D) and innovation in Pharma Sector is done by number of institutions and organizations under various scientific Ministries/Departments. The Department of Pharmaceuticals has set up seven National Institutes of Pharmaceutical Education & Research (NIPERs) as institutes of national importance, which besides imparting postgraduate and doctorate education, conduct high end research in various pharma specializations. Further, Department has framed a "National Policy on Research & Development and Innovation in Pharma-MedTech Sector in India" to encourage R&D in pharmaceuticals and medical devices. The policy also creates an ecosystem for innovation in the sector in order for India to become leader in drug discovery and innovative medical devices through incubating an entrepreneurial environment to build a robust ecosystem to ensure the holistic development of R&D and Innovation. (ANI)
