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US dollar 250 million mission launched to boost biopharma sector

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US dollar 250 million mission launched to boost biopharma sector

[vc_row][vc_column][vc_column_text]By SunderarajanPadmanabhan

The Government today launched a USD 250 million mission to give a major boost to the biopharmaceutical sector in the country as an industry-academia collaborative programme.

The main focus of the mission is to almost double India’s share in the global bio-pharmaceutical sector from the current level of a mere three percent to a more decent five percent over the next five years.

Launching the mission, Union Science and Technology Minister Harsh Vardhan expressed confidence that it would help develop more affordable and effective indigenous vaccines , drugs and other therapeutics for various diseases from cancer to dengue.

The mission envisages the setting up of an inter-ministerial steering committee to oversee its implementation and a technical advisory board consisting of national and international experts to ensure that right measures are taken, he added.

India had been an active player in the pharmaceutical industry and has contributed globally towards making life saving drugs and low cost pharmaceutical products accessible and affordable to those in need. India has been a forerunner in developing a range of medical products including rotavirus vaccine, heart valve prosthesis and insulin.

However, despite all the advances in the pharmaceutical sector, India still lagged behind its counterparts in the developed countries by 10 to 15 years. It faces stiff competition from China, and Korea in particular. According to the Global Innovation Index, India ranked at 81 out of 140, way below China, which ranked at 29 and South Korea at 14.

The problems arise mainly due to disconnected centres of excellence, not enough focus on translational research and unfocussed funding. The sector is in need of consolidated efforts to promote product discovery, translational research and early stage manufacturing in the country, the whole value chain.

The new mission seeks to address these gaps and make India a hub for design and development of novel, affordable and effective biopharmaceutical products and solutions. Under the mission, steps are to be taken to accelerate the translation of research concepts into viable products, support clinical validation, enable development of sustainable networks for collaboration between industry and the academia and generate attractive entrepreneurial ecosystems, among other things.

The mission will be implemented by Biotechnology Industry Research Assistance Council (BIRAC), a public sector undertaking under the Department of Biotechnology (DBT). It has been launched in collaboration with World Bank. The global institution is providing a loan of US dollars 125 million.  – India Science Wire[/vc_column_text][/vc_column][/vc_row]

India News

Delhi High Court denies interim relief to Telegram in challenge against NEET-related ban

Telegram did not receive interim relief from the Delhi High Court in its challenge to the Centre’s temporary restriction imposed before the NEET-UG 2026 re-examination.

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Delhi High Court issues notice to the Centre but does not stay the temporary restriction imposed ahead of the NEET-UG 2026 re-examination.

Messaging platform Telegram has not received interim relief from the Delhi High Court in its challenge to the Centre’s temporary restriction on the app ahead of the NEET-UG 2026 re-examination.

The court issued notice to the Union government and agreed to hear the matter, but did not pass any immediate order suspending the restriction. The temporary curbs were imposed until June 22 as part of measures aimed at preventing exam-related fraud and the circulation of fake paper leak claims before the June 21 re-test.

Telegram has argued that the restriction affects millions of users and is disproportionate to the alleged misuse by a small number of individuals. The company has also questioned the legality and procedure followed while imposing the restriction.

During the proceedings, the Centre defended its decision, maintaining that the measure was necessary to protect the integrity of the high-stakes medical entrance examination. Government representatives argued that Telegram had been used to spread leaked exam material, misinformation and fraudulent claims linked to the examination process.

The court sought the Centre’s response and scheduled further consideration of the matter. Until a final decision is reached, the temporary restriction remains in effect.

The dispute comes amid heightened scrutiny of examination security following the cancellation of the original NEET-UG 2026 exam and the decision to conduct a re-examination for affected candidates.

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India News

IT stocks drag markets lower as Accenture outlook sparks selloff

A sharp selloff in IT stocks after Accenture’s weak outlook weighed on Indian markets, pushing Sensex and Nifty lower while major technology shares recorded significant losses.

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Indian equity benchmarks came under pressure on Friday as a sharp decline in information technology stocks erased a portion of the gains made during the recent market rally. Weak guidance from global technology services giant Accenture triggered concerns about demand trends in the IT sector, leading to broad-based selling across major Indian technology companies.

The benchmark Sensex and Nifty opened lower, while the Nifty IT index emerged as the worst-performing sectoral gauge of the day. Shares of major IT firms, including TCS, Infosys, Wipro and HCLTech, witnessed steep declines as investors reacted to concerns over slowing technology spending and limited visibility on future demand.

Accenture guidance rattles investor confidence

Market sentiment weakened after Accenture reported quarterly results and revised its revenue outlook, citing softer demand conditions. The development raised concerns about the broader global technology services industry, particularly for Indian IT companies that derive a significant portion of their revenue from overseas clients.

Analysts noted that Accenture’s cautious commentary added to existing worries about discretionary technology spending and delayed client decision-making. The company’s outlook is often viewed as an indicator of global demand trends for IT services.

Nifty IT sees sharp decline

The Nifty IT index dropped more than 5%, with all constituent stocks trading in negative territory. TCS, Infosys, Wipro and HCLTech were among the major laggards, falling between roughly 3% and 8% during trading.

The weakness in technology shares also weighed on broader market sentiment, ending the momentum seen in recent sessions. Investors turned cautious amid concerns about global growth, technology spending trends and earnings visibility for export-focused IT companies.

Broader market under pressure

Apart from the IT selloff, analysts pointed to profit-booking after the recent rally, weaker global cues and risk aversion among investors as additional factors behind the market decline. Mid-cap and small-cap indices also traded lower, reflecting broader weakness across sectors.

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PM Modi extends birthday wishes to Rahul Gandhi, prays for his good health

PM Narendra Modi extended birthday greetings to Rahul Gandhi on his 56th birthday, wishing the Congress leader good health and a long life.

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Prime Minister Narendra Modi on Friday extended birthday greetings to Congress leader and Leader of the Opposition in the Lok Sabha, Rahul Gandhi, on the occasion of his 56th birthday.

In a post on X, PM Modi conveyed his wishes for Rahul Gandhi’s well-being and longevity. He described the Congress MP as the Leader of the Opposition in the Lok Sabha and prayed for his good health and a long life.

Rahul Gandhi, one of the senior-most leaders of the Congress party, celebrated his 56th birthday on June 19. He currently serves as the Leader of the Opposition in the Lok Sabha.

The Prime Minister’s message was noted as a gesture of courtesy between leaders from rival political parties, who frequently engage in sharp political debates on national issues.

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