States should avoid interference in prices of medical equipment, other goods: MTAI

States should avoid interference in prices of medical equipment, other goods: MTAI

New Delhi: The Medical Technology Association of India (MTAI) has said that states should refrain from interference to control the prices of medical devices and other products. MTAI said that only the National Pharmaceutical Price Regulator should take a decision in this regard. MTAI is an organization representing research based medical technology companies.

MTAI Chairman and Director General Pawan Choudhary said in a statement that orders by various states to control the prices of essential items like PPE kits and N95 masks by various states may lead to supply constraints. Choudhary said, “We are at a critical juncture in the fight against the pandemic. The government and the industry are working together to come out of this situation. Taking any decision without discussion with the industry at such a time will lead to confusion.” '' 

He said Kerala, Tamil Nadu and Maharashtra have fixed prices at different times. Any of its products are at risk of being sold at different prices in the country.  


Foreign exchange reserves reached a new record, crossed the $ 612 billion mark

Foreign exchange reserves reached a new record, crossed the $ 612 billion mark

Mumbai: The country's foreign exchange reserves increased by $ 835 million to a record high of $ 612.73 billion in the week ended July 16, 2021. According to the data of the Reserve Bank of India, in the previous week ended July 9, foreign exchange reserves had increased by $ 1.883 billion to $ 611.895 billion.

According to the Reserve Bank's weekly data, the increase in foreign exchange reserves in the week under review is due to the increase in foreign currency assets (FCAs), which are a major component of the overall reserves. During this period, FCA grew by $ 463 million to $568.784 billion. Foreign currency assets, expressed in dollar terms, also include the effect of an increase or decrease in the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves. 

Gold reserves increased by $ 377 million
According to the data, during this period, gold reserves increased by $ 377 million to $ 37.333 billion. At the same time, the Special Drawing Rights (SDR) with the International Monetary Fund increased by $1 million to $1.548 billion. The Reserve Bank said that during the week under review, India's foreign exchange reserves with the IMF declined by $ 7 million to $ 5.1 billion.