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As India grapples with a massive second wave of coronavirus infections, the country’s pharmaceutical industry is under pressure to deliver vaccines and medicines.
Dubbed the ‘pharmacy of the world’, India’s sprawling pharmaceutical factories were expected to supply the bulk of Covid-19 vaccines and medicines to the world. But a record jump in coronavirus cases in a country of more than 1.3 billion people is putting the sector under strain. India’s health ministry on Saturday reported another 346,786 new Covid-19 infections.
“The pharmaceutical industry does need to ramp up its infrastructure to facilitate higher production of essential [drugs and vaccines],” says Dr Nikhil Mathur, the chief of medical services at Care Group of Hospitals.
India is fast emerging as a startup nation. In around a decade, the Indian startup ecosystem has scaled to become the third-largest start hub in the world followed by the US and China. To gauge the success of Indian startups that are expected to enter the Unicorn club, management consulting firm Praxis Global Alliance, has prepared a quarterly report on India’s Soonicorns landscape – the next billion-dollar startups. It has come up with the launch of the second edition of India’s Soonicorns list. The list includes 35 startups that have the potential to achieve a $1 billion-plus valuation (unicorn) in near future.
Praxis Global Alliance appoints Sumit Goel as a managing partner
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Synopsis
Based in Mumbai, Goel will be responsible for cost and operational excellence, revenue and growth, customer experience, business transformation, commercial diligence, post-merger integration, deal-value unlocking for Praxis clients globally.
Agencies
Praxis Global Alliance, a management consulting and advisory services firm today announced that it has appointed Sumit Goel as managing partner and practice leader for its healthcare, pharmaceuticals, and life sciences practices.
Before joining Praxis, Goel was a partner with KPMG in India, leading the healthcare consulting practice. Earlier, he was a leader in business consulting practice of EY focusing on the life sciences sector. He has advised leading healthcare chains and standalone hospitals, domestic and MNC pharmaceutical and medical device companies, diagnostic chains, and retail pharmacies. He has also worked with leading private eq
Oily Mess
A sharp increase in global crude oil prices has pushed retail rates of petrol and diesel to historic highs. Taxes are partly to be blamed, but reducing excise duties may not be easy for a cash-strapped government
On January 19, Minister for Petroleum and Natural Gas Dharmendra Pradhan came down heavily on oil-producing countries for going slow in ramping up supplies and artificially inflating global crude prices. A few months back we were discussing about consumption-centric economic revival, demand revival, and we are supposed to restrict our production cuts and gradually ramp up production by January - but in contradiction to that, we are now controlling oil production, Pradhan said at an energy conference organised by the Atlantic Council. India is the third-largest consumer of energy in the world and imports 85 per cent of its crude requirement every year. Prices of the Indian crude basket have gone up from $40.66 per barrel in October to a shade under $70 per barre