US CHARGES INDIA WITH DUMPING

The US Commerce Department has ruled that India is "dumping" ibuprofen in the USA at prices which are lower than it costs to produce the drug.

The statement came in an initial ruling by the Department, with a final statement expected on the issue February 26. By that date, the Federal Trade Commision will also have reached a decision as to whether these practises are harming US manufacturers of the product. If the charges against India are found to be substantiated, the US Customs will be asked to set a levy of 43.7% against all Indian imports, this rate being estimated as equal to the rate at which Indian imports are being discounted on the US market.

- Indian businessmen working overseas have agreed to provide capital and experience for genetic engineering projects in India, according to reports from the Tass news agency in New Delhi.