The Telegraph
Since 1st March, 1999
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Business Briefs

Forex reserves top $93 bn

Mumbai, Nov. 15: India’s foreign exchange reserves crossed the $93 billion-mark following a further rise of $613 million due to fresh inflows for the week ended November 7. The country’s foreign exchange reserves increased from $92,598 million to $93,211 million in the period under review, according to the Reserve Bank of India’s weekly statistical supplement released here today. The foreign currency assets grew to $89,287 million, up by $613 million.

Service sector

New Delhi, Nov. 15: Hoping that India could emerge as a “world-beater” in the services sector, commerce minister Arun Jaitley today asked industry to let go of the protectionist mindset to unleash its full potential globally. Inaugurating the 98th annual general meeting of the PHD Chamber of Commerce and Industry, Jaitley said that in some sectors there was fear of competition, which has to be overcome.

Pharma norms

Mumbai, Nov. 15: The government may bring transportation of medicines and raw materials under the ambit of drug control regulations as part of its new measures, M. Venkateswarlu, deputy drug controller, said today.

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