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More “bold decisions” and “acceptability”: Pharma industry-heads on their journey in building the industry

More “bold decisions” and “acceptability”: Pharma industry-heads on their journey in building the industry

by | Feb 9, 2026 | Business


(Left -Right) Dr. Yusuf Hamied; G.V Prasad, Dr Reddy’s; Prof. M.M. Sharma, (UDCT) ICT; Vinita Gupta, Lupin; Moderator.

From the need to take bold decisions, including making an early entry into the biological products segment, to pushing for greater “acceptability” of Indian medicines in the domestic market – founders and promoter-family members from top domestic drugmakers recounted from their own experiences, at the launch of “Made in India”, the story of Lupin’s late founder DB Gupta and the Indian pharmaceutical industry.

With biological products projected to be large part of the industry’s future growth, Dilip Shanghvi, Sun Pharmaceutical Industries’ Founder and Executive Chairman, reflected, they should have got into the segment earlier. The company should have also hired expertise, rather than train on the job, he said, addressing a full-house at the book launch on Sunday evening.

Recollecting the early days -with two medical representatives in the company, including himself, Shanghvi said, domestic drugmakers have since grown to compete globally. All it takes is one success to give courage to others to walk that path, he said, pointing to Glenmark’s recent $ 700 million outlicensing deal on its cancer drug candidate. Companies need to find a way to continue to compete globally, he said, including through buying a company outside. In fact, Sun Pharma is in the news, reportedly scouting for a major international acquisition.  

Cipla doyen Dr YK Hamied, pointed out, that top domestic drugmakers invested between 6-8 percent of their revenues in research and development, and called for greater acceptability of locally made products among the Indian medical fraternity. The industry should put their heads together, he said, to address moving forward on innovation. As a scientist, he was not against patents, only monopolies, said Hamied, something the domestic industry protested in the 1970s, following which product patents had been removed. The Patents Act has since been amended (2005) to bring back products patents.

Future research by companies, he said, would largely be in partnership with government institutions like the Indian Council of Medical Research (ICMR) or Council of Scientific and Industrial Research (CSIR), as it may be difficult for local drug companies to go it alone on research, with exceptions like Sun Pharma or Dr Reddy’s Laboratories (DRL).

GV Prasad, DRL’s Co-Chairman & Managing Director, echoed Shanghvi’s thoughts on taking bold decisions and hiring talent from outside. The best kind of risk to take were those that were “manageable” if they were bad bets, or game changers, if they came good, he said. Vinita Gupta, Lupin Chief Executive Officer, and part of the promoter family, observed that the industry was a “tough”  one to be in, and Indian drugmakers were looking to innovate differently on products.  

Reflecting on DBG, as industry peers called DB Gupta, Lupin Managing Director Nilesh Gupta pointed to his father’s role in building Lupin, and as a co-creator of the pharmaceutical industry, as it is today. While DBG “wore his success lightly”, hailing from a village in Rajasthan, his children grew up with “performance reviews”, not career-counselling, recounted Nilesh. Lupin Chairperson (Non-executive) Manju D Gupta recalled DBG’s encouragement of women’s participation in the business, ahead of its time.

Making an interesting observation, MM Sharma, formerly with University Department of Chemical Technology, pointed out, the Indian pharmaceutical industry had grown on the back of technocrat entrepreneurs and not established business houses.

Published on February 9, 2026



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Edible oil industry sees limited impact from duty cut on soybean oil imports in Indo-US deal

Edible oil industry sees limited impact from duty cut on soybean oil imports in Indo-US deal

by | Feb 9, 2026 | Business


The impact of the duty reduction announced in the US-India bilateral trade agreement will be limited for Indian soybean oil importers, though it may marginally ease soybean oil prices in Argentina, according to the Indian edible oil sector.

BV Mehta, Executive Director of the Solvent Extractors’ Association of India (SEA), said crude soybean oil prices in Argentina may go down marginally and may have some impact on price of palm oil, if soy oil comes at zero or +5 per cent (agri cess) duty. However, he said, it has to be seen whether agri cess would also be reduced or not.

Stating that the US origin oil is generally more expensive for India by $30-40 a tonne (plus additional logistic cost), he said the advantage of duty reduction will be less for Indian importers.

Nepal imports

If duty reduction includes refined soybean oil, then the issue of oil inflow from Nepal may also get solved as it may no longer be viable commercially, he said.

India’s total soybean oil import stood at 54.68 lakh tonnes (lt) during the oil year 2024-25 (November-October). Of this, the share of soybean oil imports from the US stood at 1.88 lt. Argentina is the major exporter of crude soybean oil to India. The share of Argentina stood at 28.92 lt during the oil year 2024-25.

He felt that there could be chances of fixing quota for import of soybean oil at nil duty.

Duty free DDGS imports would add additional supply for cattle feed and poultry feed sector in the country. India currently produces around 7.5-8.0 million tonnes of DDGS, replacing soybean and rapeseed meal and DORB (deoiled rice bran) to some extent. It would be a big challenge for the domestic solvent extraction industry producing oilmeals, and Indian maize-based distilleries, he said.

Integral to market pricing, sourcing

Sudhakar Desai, President of the Indian Vegetable Oil Producers’ Association (IVPA), said the recently concluded FTAs and bilateral arrangements with partners such as the US, EU, Australia, UAE and SAFTA members have become integral to market pricing and sourcing decisions.

“These agreements now directly influence landed cost structures, arbitrage flows and refining economics,” he said, noting that further details on potential tariff concessions or quota mechanisms for US soybean oil will provide additional market clarity. Under the deal, there is a quota of 500,000 tonnes of corn DDGS which helps the poultry and aqua sector. However, its impact on Indian soybean prices is yet to be assessed, he said.

Published on February 9, 2026



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Tata AIA rolls out Value Index Funds with life insurance cover

Tata AIA rolls out Value Index Funds with life insurance cover

by | Feb 9, 2026 | Business


Tata AIA Life Insurance launched two Enhanced Value Index Funds on Monday targeting long-term wealth creation through systematic equity investing. The funds offer during a seven-day window from February 9-16, with policies issued at a net asset value of ₹10 on February 16.

The Enhanced Value Index Fund and Enhanced Value Index Pension Fund track the BSE 500 Enhanced Value 50 Customised Index, investing in 50 companies across large, mid and small-cap segments selected on fundamentals including book-to-price, earnings-to-price and sales-to-price ratios. Both funds combine equity exposure with life insurance protection through unit-linked insurance solutions.

The funds maintain 70-100 per cent allocation to equities and equity-related instruments, with the remainder in cash and money market instruments. Tata AIA benchmarks performance against the BSE 500 Enhanced Value 50 Customised Index.

Chief Investment Officer Harshad Patil said the funds aim to simplify long-term equity investing through a transparent, fundamentals-driven approach that removes stock selection and market timing challenges.

Tata AIA reported assets under management of ₹145,256 crore as of December 31, 2025, reflecting 21 per cent year-on-year growth. The company posted total premium income of ₹31,484 crore for FY25, up 23 per cent from the previous fiscal year.

Published on February 9, 2026



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Gold rate today Feb 9 : Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru

Gold rate today Feb 9 : Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru

by | Feb 9, 2026 | Business


FILE PHOTO: UK gold bullion bars are stacked at Baird & Co in Hatton Garden in London, Britain.
| Photo Credit:
Hiba Kola

Gold prices in India have seen an upward trend today, February 9, with an increase seen across all major cities. The price of both 22-carat and 24-carat gold has risen compared with the previous session. This report provides a detailed, city-by-city breakdown of today’s gold prices.

Gold Rate in India

The average price for 22-carat gold in India today is ₹14,610 per gram, marking an increase of ₹205. For 8 grams, the price is ₹1,16,880, up by ₹1,640. The 24-carat gold price stands at ₹15,341 per gram (up by ₹216) and ₹1,22,728 for 8 grams (up by ₹1,728).

Gold Rate in Mumbai

In Mumbai, the price for 1 gram of 22-carat gold today is ₹14,610 per gram, marking an increase of ₹205. For 8 grams, the price is ₹1,16,880, up by ₹1,640. The 24-carat gold price stands at ₹15,341 per gram (up by ₹216) and ₹1,22,728 for 8 grams (up by ₹1,728).

Gold Rate in Chennai

Chennai’s gold rates have also seen a jump. A gram of 22-carat gold is priced at ₹14,650, a rise of ₹230. An 8-gram piece costs ₹1,17,200, up by ₹1,840. For 24-carat gold, the price is ₹15,383 per gram, an increase of ₹242, and ₹1,23,064 for 8 grams, up by ₹1,936.

Gold Rate in Hyderabad

Hyderabad’s 22-carat gold price is priced at ₹14,650, a rise of ₹230. An 8-gram piece costs ₹1,17,200, up by ₹1,840.

The 24-carat gold rate is ₹15,383 per gram, an increase of ₹242, and ₹1,23,064 for 8 grams, up by ₹1,936.

Gold Rate in Delhi

In Delhi, the price of 22-carat gold is ₹14,815 per gram (up by ₹805) and ₹1,18,520 for 8 grams (up by ₹6,440). The 24-carat gold price is ₹15,556 per gram, a jump of ₹845, while 8 grams costs ₹1,25,448, up by ₹6,760.

Gold Rate in Ahmedabad

Ahmedabad’s gold prices also reflect the national trend. The price for 1 gram of 22-carat gold is ₹14,664, an increase of ₹205, and ₹1,17,312 for 8 grams, up by ₹1,640. For 24-carat gold, the price is ₹15,397 per gram (up by ₹215) and ₹1,23,176 for 8 grams (up by ₹1,720).

Gold Rate in Kolkata

In Kolkata, 1 gram of 22-carat gold is priced at ₹14,710, up by ₹205, and 8 grams at ₹1,17,680, up by ₹1,640. The price for 24-carat gold is ₹15,446 per gram, an increase of ₹216, while 8 grams is priced at ₹1,23,568, up by ₹1,728.

Gold Rate in Bengaluru

Bengaluru also witnessed a rise in gold rates. The price of 22-carat gold is ₹14,670 per gram (up by ₹205) and ₹1,17,360 for 8 grams (up by ₹1,640). The 24-carat gold price is ₹15,404 per gram (up by ₹216) and ₹1,23,232 for 8 grams (up by ₹1,728).

Gold Rates Courtesy: bankbazaar.com

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Published on February 9, 2026



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Indian Oil, HPCL buy 2 mln bbls Venezuelan oil from Trafigura -trade sources

Indian Oil, HPCL buy 2 mln bbls Venezuelan oil from Trafigura -trade sources

by | Feb 9, 2026 | Business


A view of the installations at the Puerto La Cruz oil refinery of Venezuelan state oil company PDVSA in Puerto La Cruz, Venezuela, January 23, 2026.
| Photo Credit:
Samir Aponte

India’s ‍top refiner, Indian
Oil ​Corp and Hindustan ‌Petroleum Corp ​have
together bought 2 million barrels of Venezuelan crude Merey from
trader Trafigura for delivery ​in the second ⁠half of April, trade
sources said.

The purchase ​of Venezuelan ⁠oil is the first by HPCL, with
IOC having ‌previously bought Venezuelan ‌oil in 2024

The pricing of Merey ‍is linked to the Dubai benchmark and
reflects similar rates at which Reliance Industries
bought Venezuelan ⁠oil from trader Vitol, said ​one of the
sources, who ⁠all spoke on condition of anonymity.

Published on February 9, 2026



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