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<keyword id="20104772" type="General" weightage="20" keywordseo="Hyundai-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors" meta.hostid="261" meta.entityid="Hyundai Motors">Hyundai Motors</keyword> India's IPO worth Rs 27,870 crore, the largest India has ever seen, got off to an unhurried start today, with 18% of the total offer subscribed on the first day. The IPO, which closes on October 17, has already attracted significant attention from retail and institutional investors. The issue was subscribed 0.27x in the retail category, 0.05x in the QIB (qualified institutional buyers) category and 0.13x in the NII (non institutional investors) category. <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">Retail investors</keyword> placed bids for 1.3 crore shares, as against the 4.94 crore shares which were offered to them. In contrast, Hyundai employees showed strong support for the IPO, bidding for 6,28,509 shares, as against the 7,78,400 shares allocated to them. Just a day before, Hyundai had raised Rs 8,315.3 crore from about 225 <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword>. The list included several marquee global names, like the <keyword id="22882636" type="General" weightage="20" keywordseo="Government-of-Singapore" source="keywords" meta.keywordsubtype="org" meta.entityname="Government of Singapore" meta.hostid="261" meta.entityid="Government of Singapore">Government of Singapore</keyword>, New World Fund Inc, and the Canada Pension Plan Investment Board. These institutions, along with Fidelity, Government Pension Fund Global, and American Funds Insurance Series New World Fund, invested a combined Rs 2,191.66 crore in the company. Other notable participants in the anchor round included Vanguard, Blackrock, Goldman Sachs and JP Morgan. Hyundai Motor India allocated 4.2 crore equity shares to these anchor investors at Rs 1,960 per share. Also, 34.42% of the entire allocation to anchor investors went to 21 domestic mutual funds via 83 schemes. AMCs (asset management companies) like ICICI, Invesco, Kotak and UTI were part of this round. While the current IPO is entirely OFS (offer for sale), which means that no part of the proceeds will go to Hyundai Motor India, the company has announced that it plans to invest more than Rs 33,000 crore over the next 10 years in India. The country is an important market for the South Korean automobile giant, given that it is the 2nd largest OEM (original equipment manufacturer) in the passenger vehicle space in India. However, the market is already preparing for muted listing day gains, with the company's GMP dropping to Rs 59 today. Hyundai is estimated to list at Rs 2,019 per today's GMP, taking the expected gain/loss per share to a minuscule 3.01%, as per data from IPO site Chittorgarh.

India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

Bangladesh's <keyword id="22808387" type="General" weightage="20" keywordseo="International-Crimes-Tribunal" source="keywords" meta.keywordsubtype="org" meta.entityname="International Crimes Tribunal" meta.hostid="261" meta.entityid="International Crimes Tribunal">International Crimes Tribunal</keyword> on Thursday issued arrest warrants against former prime minister <keyword id="20024637" type="General" weightage="100" keywordseo="Sheikh-Hasina" source="keywords">Sheikh Hasina</keyword>, who was ousted after student-led <keyword id="19905184" type="General" weightage="20" keywordseo="protests" source="keywords">protests</keyword> in August, and 45 others for alleged <keyword id="20034029" type="General" weightage="20" keywordseo="crimes-against-humanity" source="keywords">crimes against humanity</keyword>. The warrants against Hasina, 77, and others, including her party <keyword id="20033312" type="General" weightage="20" keywordseo="Awami-League" source="keywords" meta.keywordsubtype="org" meta.entityname="Awami League" meta.hostid="261" meta.entityid="Awami League">Awami League</keyword>'s top leaders, were issued on the first day of the judicial proceedings begun by the re-constituted tribunal, <keyword id="20085396" type="General" weightage="20" keywordseo="Dhaka-Tribune" source="keywords" meta.keywordsubtype="org" meta.entityname="Dhaka Tribune" meta.hostid="261" meta.entityid="Dhaka Tribune">Dhaka Tribune</keyword> newspaper said. The Tribunal, led by its chairman Justice Md Golam Mortuza Majumdar, passed the orders after the prosecution filed two petitions seeking arrest warrants, Chief Prosecutor Muhammad Tajul Islam was quoted as saying by the Daily Star. The ICT also directed the authorities concerned to produce Hasina and 45 others before it by November 18. So far more than 60 complaints of enforced disappearance, murder and mass killings have been filed at the ICT against Hasina, other leaders of her Awami League party and the 14-party alliance, journalists and former top officials of law enforcement agencies. Following unprecedented anti-government protests over a controversial quota system in government jobs that peaked on August 5, Hasina resigned as prime minister and fled to India and is currently believed to be living at an undisclosed location there. Hundreds of people were killed in Bangladesh in the incidents of violence that erupted across the country following the fall of the Hasina government, taking the death toll to more than 1,000 since the massive protest by students against a controversial quota system in government jobs first started in mid-July. After taking over on August 8, Bangladesh's <keyword id="21030472" type="General" weightage="20" keywordseo="interim-government" source="keywords">interim government</keyword> had said it would try in the International Crimes Tribunal those involved in the killings during the mass movement of the students against the Hasina-led government. Hasina faces almost 200 cases mostly for murders during the <keyword id="23583086" type="General" weightage="20" keywordseo="mass-student-protests" source="keywords">mass student protests</keyword>. Advocate Tajul Islam, the chief prosecutor of the tribunal, said on Sunday that Interpol's assistance would be sought to bring back fugitives, including Hasina. After the interim government was formed, ICT's judges, prosecution team and investigation agency appointed by the previous government, had stepped down and the body was re-constituted recently. The interim government has not ruled out seeking Hasina's extradition. Chief Adviser of the interim government Muhammad Yunus, in an interview to PTI in September, had said Hasina making political remarks from India is an "unfriendly gesture," and asserted that she must remain silent to prevent the discomfort to both countries until Dhaka requests her extradition.

Bangladesh tribunal issues arrest warrant against ex-Prime Minister Sheikh Hasina, currently believed to be in India

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

New Delhi: <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> has demonstrated a largely successful inflation targeting regime compared to advanced economies such as the USA, Germany, and France, according to a research report by the <keyword id="19934368" type="General" weightage="100" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> (SBI). The report credits government initiatives, the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>, and banks for addressing these issues over the past decade, allowing for better policy transmission and improved inflation management. "The success of Inflation Targeting in India is largely a byproduct of a vibrant financial ecosystem where <keyword id="23140158" type="General" weightage="20" keywordseo="rbi-government" source="keywords">RBI, Government</keyword> and the Banks are working closely in unison in ushering in market reforms" said the report The report highlighted that India experienced minimal deviations from its inflation targets between 2021 and 2024, setting it apart from other global economies facing greater inflationary challenges. It added that during 2021-2024, India recorded one of the lowest deviations from its inflation targets, highlighting the effectiveness of its inflation control measures. This success, the report points out, is largely a result of coordinated efforts between the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) and the central government. "India had a largely successful inflation targeting regime. Compared to advanced economies like the USA, Germany" said the report. As per the report the synchronization of monetary and fiscal policies, particularly during the pandemic, played a key role in maintaining price stability. It also emphasized that India's pre-inflation targeting regime faced several challenges that hindered the effective transmission of monetary policy. These challenges included sustained fiscal dominance, the presence of a large informal sector, significant informal financing, and inefficiencies in how banks priced their loan products. "Effectiveness of monetary policy in India's pre-Inflation Targeting regime was constrained by several India specific factors that affected transmission of the policy impulses through the interest rate channel" the report added. However, one of the key arguments in the report is that the RBI's inflation targeting has anchored inflationary expectations, even as food inflation remains high. The notion that headline inflation should exclude food prices was dismissed as counterfactual by the report. According to the study, the RBI's success in targeting inflation, despite food price volatility, has prevented a spill-over from food inflation to core inflation. The report stressed that the RBI's consistent communication of its inflation target--set at 4 per cent--has been crucial in successfully anchoring inflation expectations. By reinforcing its commitment to this target, the RBI has helped stabilize inflationary trends across the broader economy. The SBI report reinforces India's effective monetary policy framework, particularly in light of the global inflationary pressures seen in advanced economies like the US and Germany.

India handled inflation much better than US, Germany and France: SBI Report

India is set to celebrate its first <keyword id="22301946" type="General" weightage="100" keywordseo="National-Space-Day" source="keywords">National Space Day</keyword> on August 23, 2024. In 2023, on this very day, <keyword id="20376714" type="General" weightage="20" keywordseo="Chandrayaan-3" source="keywords">Chandrayaan 3</keyword> accomplished the safe and soft landing of <keyword id="21074312" type="General" weightage="20" keywordseo="Vikram-Lander" source="keywords">Vikram Lander</keyword> on the <keyword id="20381887" type="General" weightage="20" keywordseo="lunar-surface" source="keywords">lunar surface</keyword>. India became the fourth country to land on the moon and the first to land near the southern polar region of the moon. The <keyword id="19909265" type="General" weightage="20" keywordseo="Union-Government" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Government" meta.hostid="261" meta.entityid="Union Government">Union Government</keyword> has declared August 23rd as "National Space Day" to celebrate the remarkable success of the Chandrayaan-3 Mission, which accomplished a safe and soft landing of the Vikram Lander and deployed the <keyword id="22760272" type="General" weightage="20" keywordseo="Pragyaan-rover" source="keywords">Pragyaan rover</keyword> on the lunar surface near the South Pole. This achievement is being celebrated across the country with the goal of engaging and inspiring the younger generation in the field of <keyword id="21280701" type="General" weightage="20" keywordseo="Space-Science" source="keywords">Space Science</keyword> and Technology. To commemorate this historical achievement, the Department of Fisheries (DoF), <keyword id="19923385" type="General" weightage="20" keywordseo="Government-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Government of India" meta.hostid="261" meta.entityid="Government of India">Government of India</keyword> (GoI), is organizing a series of seminars and demonstrations, to create awareness about the Application of Space Technologies in the Fisheries Sector. The events are being organized in collaboration with various coastal States and Union Territories, <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="261" meta.entityid="ISRO">ISRO</keyword> and DoF field offices. Earlier, the notification issued by the Department of Space said India became the first country to land near the South pole of the moon with the success of the Chandrayaan-3 Mission. "With the success of the Chandrayaan-3 Mission on August 23, 2023, with the landing of the Vikram lander and deployment of the Pragyaan Rover on the lunar surface, India joins an elite group of Space faring nations becoming the fourth country to land on the moon and the first nation to land near to South pole of the moon," said the notification. "The outcome of this historic mission will benefit mankind in the years to come," it added. The notification said the day marks an important milestone in the country's advancements in space missions, will inspire younger generations towards enhanced interest in pursuing <keyword id="19960286" type="General" weightage="20" keywordseo="stem" source="keywords">STEM</keyword> and will provide a major impetus to the space sector. "The Government of India has declared August 23 of every year as 'National Space Day' to commemorate this historic moment," it said.

India set to celebrate first National Space Day on August 23

In a massive move for the country’s growing climate woes, India is aiming to control weather phenomena like rainfall, lightning, and hail within five years. Dubbed "<keyword id="23131560" type="General" weightage="20" keywordseo="Mission-Mausam" source="keywords">Mission Mausam</keyword>," this government-backed initiative includes the development of <keyword id="23148975" type="General" weightage="20" keywordseo="Mausam-GPT" source="keywords">Mausam GPT</keyword>, a weather AI model designed to enhance prediction accuracy and even manipulate the weather. This would make India one of the first countries to experiment with <keyword id="21369368" type="General" weightage="100" keywordseo="weather-modification" source="keywords">weather modification</keyword> on a significant scale. <h2>Mission Mausam</h2>India’s "Mission Mausam" aims to reshape the future of weather management by using technology to control rain. Over the next 18 months, the government will start with lab simulations to either enhance or suppress rainfall. The ultimate goal, as outlined by Earth Sciences Secretary M. Ravichandran, is to roll out full-scale weather modification within five years. He stated that the initiative could even target events like Independence Day, where “one can think about suppressing rain.” By deploying <keyword id="20644540" type="General" weightage="20" keywordseo="cloud-seeding" source="keywords">cloud seeding</keyword> techniques alongside AI-driven weather prediction tools like "Mausam GPT," the mission seeks to significantly improve India’s ability to manage extreme weather conditions. A key aspect of the plan involves building a robust system of advanced radars, supercomputers, satellites with high-performance sensors, and GIS-based decision support systems. This cutting-edge tech is expected to boost India’s short- and medium-range weather forecasting accuracy by 5-10%, ensuring no event — such as cloudbursts — goes undetected. <div type="Article" hostid="261" msid="113251187" title="India braces for an intensely harsh winter as La Niña takes hold" mstype="2" mssubtype="0"></div>India is not new to weather manipulation efforts. The government has been running pilot projects, such as the Cloud Aerosol Interaction and Precipitation Enhancement Experiment (CAIPEEX) in Maharashtra, to study cloud properties and enhance rainfall. <h2>Why is weather manipulation necessary and is it safe?</h2>Extreme weather events in India, like deadly floods, droughts, and hailstorms, have noticeably increased in frequency due to <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword>. Mission Mausam could potentially give India an edge in combating these disasters. For example, imagine preventing a flood by suppressing rain or creating artificial rain during a drought. India’s investment of Rs 2,000 crore over two years certainly reflects the seriousness of the mission, which is expected to expand further as research progresses. However, weather modification, including cloud seeding, is not without controversy. Globally, cloud seeding has had limited success, with countries like the US, Russia, and China also experimenting with these methods but facing inconsistent results. Even former MoES Secretary Madhavan Rajeevan has noted that “the technology is complex” and still in its developmental stages. <div type="Article" hostid="261" msid="112825937" title="Shivaji Maharaj Statue collapse: Identifying 5 reasons behind the accident" mstype="2" mssubtype="0"></div>Further, the potential downsides can't be ignored. While controlling the weather could save lives, meddling with natural processes is risky. Weather manipulation might have unintended ecological consequences, like shifting rainfall patterns that could harm ecosystems and agriculture. It may also pose geopolitical risks, as neighbouring countries could accuse India of altering weather systems that affect their own climates. Ultimately, while the idea of managing the weather may seem appealing, it opens up a Pandora’s box of environmental and ethical challenges that need careful consideration.

The Indian government is taking steps to control rainfall and weather within five years — is it too risky of a move?

A day before the official release of India's Gross Domestic Product (<keyword id="35050" type="General" weightage="20" keywordseo="GDP" source="Orion">GDP</keyword>) figures for <keyword id="21593310" type="General" weightage="20" keywordseo="Q1-FY25" source="keywords">Q1 FY25</keyword>, a report by <keyword id="20548750" type="General" weightage="20" keywordseo="Anand-Rathi" source="keywords" meta.keywordsubtype="org" meta.entityname="Anand Rathi" meta.hostid="261" meta.entityid="Anand Rathi">Anand Rathi</keyword> research estimates the GDP to grow by 7 per cent, primarily driven by the robust performance of the services sector. The financial advisory firm also maintains its full-year <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> projection at 7 per cent, though it warns of potential downside risks. Utilities GVA is expected to rise by 11.5 per cent, while the construction sector has slowed due to election-related disruptions and the impact of heat. The mining sector remains strong, supported by increased coal production. The services sector is expected to be the primary driver of GDP growth in Q1 FY25. Despite reduced <keyword id="20155204" type="General" weightage="20" keywordseo="government-spending" source="keywords">government spending</keyword> ahead of the elections, which is likely to dampen growth in some service sectors, financial, real estate, and professional services are expected to have performed well. This performance is attributed to strong market activity and credit growth. However, the trade and transport sectors present a mixed picture, with some indicators showing improvement while others remain moderate. Overall, Services Gross Value Added (GVA) is expected to grow by 8.2 per cent in Q1 FY25. As per the report, Investment was a key growth driver in FY24, fuelled by government infrastructure projects and a real estate upswing. However, the momentum appears to have slowed in Q1 FY25 due to pre-election restrictions. Despite this, the report predicts a significant rise in government capital expenditure in the coming months, supported by greater budget allocations. The report highlights the changing dynamics of private consumption in India. FY24 saw weak consumption, especially in rural areas, with final consumption expenditure growing by just 3.8 per cent. However, as FY25 begins, there are signs of a rural revival. Indicators such as increased two-wheeler sales and improving Fast-Moving Consumer Goods (FMCG) volume growth signal a rebound in rural demand. In contrast, urban demand continues to show signs of sluggishness. The muted sales of passenger vehicles, weaker retail credit transfers, and flat Goods and Services Tax (GST) collections underscore this trend. While consumption is not expected to see a significant rise in Q1 FY25, the outlook for the remainder of the year appears positive. This optimism is bolstered by anticipated higher agricultural output and sharper government focus on rural areas. The agriculture sector is expected to post a subdued growth of 2.1 per cent in Q1 FY25, affected by scorching heat and uneven rainfall last year, which led to lower reservoir levels and hindered farming activities. However, the outlook is more promising for the remainder of the fiscal year, with better rains and improved sowing conditions expected to boost agricultural output Additionally, a rebound in stamp duty collections suggests buoyant real estate sales. Private capital expenditure, which was previously subdued, is expected to expand in FY25, driven by rising capacity utilisation and strong order books. The industrial sector, which grew by 9.5 per cent in FY24, is expected to see a shift in growth drivers in Q1 FY25. The focus is now moving towards utilities and mining, with manufacturing growth slowing. While government infrastructure projects and private capital expenditure will continue to support industrial growth, the global growth slowdown poses potential risks.

Anand Rathi anticipates Q1 FY25 GDP growth at 7%, a little lower than RBI's estimate of 7.1%

The central government has prohibited as many as 156 <keyword id="22893276" type="General" weightage="20" keywordseo="combination-drugs" source="keywords">combination drugs</keyword> that are often administered as painkillers, multivitamins, and antibiotics, for fever and cold, among others. In a gazette notification dated August 21, the government said that the use of the drug Fixed Dose Combination of Amylase, Protease, Glucoamylase, Pectinase, Alpha Galactosidase, Lactase, Beta-Gluconase, Cellulase, Lipase, Bromelain, Xylanase, Hemicellulase, Malt diastase, Invertase, Papain is likely to involve risk to human beings whereas safer alternatives to the said drug are available. Upon recommendations of the <keyword id="20092000" type="General" weightage="20" keywordseo="Drugs-Technical-Advisory-Board" source="keywords">Drugs Technical Advisory Board</keyword>, the central government, in the greater interest of the public, has prohibited the manufacture for sale, sale, and distribution for human use of those drugs across the country with immediate effect. The move from the government comes after the matter was examined by an expert committee appointed by the central government, and the said expert committee considered the administration of this Fixed Dose Combination as "irrational". The Drugs Technical Advisory Board also examined the said FDC and recommended that "there is no therapeutic justification for the ingredients contained in this FDC. The FDC may involve risk to human beings. Hence in the larger public interest, it is necessary to prohibit the manufacture, sale or distribution of this FDC under section 26 A of the Drugs and Cosmetics Act 1940. In view of above, any kind of regulation or restriction to allow for any use in patients is not justifiable," the notification read. The list of banned drugs also includes drugs used for hair treatments, antiparasitic, skincare, anti-allergic. The medicines combined in more than one drug in a single pill are Fixed dose combination drugs FDC, these drugs are also known as cocktail drugs. The Indian Pharmaceutical Alliance supports the decision of the government. Sudarshan Jain, Secretary General, IPA told that, "this has been going for many years and there was a committee which reviewed the whole thing... This is a right step in the interest of patients and all aspects have been taken into consideration." "They have given the opportunity to give the data to support their products, so the right products will continue and when there is no data to support then companies have to withdraw it," Jain added. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

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India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

BI India Bureau

Bangladesh tribunal issues arrest warrant against ex-Prime Minister Sheikh Hasina, currently believed to be in India

PTI

Why has Bernstein called India’s EV sector 'irrelevant'?

BI India Bureau

India handled inflation much better than US, Germany and France: SBI Report

ANI

India set to celebrate first National Space Day on August 23

ANI

The Indian government is taking steps to control rainfall and weather within five years — is it too risky of a move?

Ankush Banerjee

Anand Rathi anticipates Q1 FY25 GDP growth at 7%, a little lower than RBI's estimate of 7.1%

ANI

India bans 156 commonly used combination drugs citing possible risks to humans

ANI

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