HelioScreen, In Vitro evaluation specialist in sun screen products entering India

Thomas ILHE - 13-avr.-2015 11:36:44
HelioScreen , a French company involved in evaluation of sun protection products has entered Indian market partnering with C.L.A.I.M.S   Pvt Ltd , a Mumbai based CRO specializing in clinical research in the area of skin, hair and body care. 15 year old Helioscreen is a laboratory providing services for testing any products (cosmetics, textile, clothes etc.) in regard of their properties for UV /sun protection by means of In Vitro testing. With their profound involvement in R&D, and conceptualized a very particular kind of ‘robot’ which is considered as a performer in UV protection as it ensures consistency during In Vitro testing. LSW met Dr. Dominique Lutz, CEO and found out more about sunscreen technology and his company HelioScreen.  Excerpts from the interview conducted during his visit to Mumbai. Dr. Dominique Lutz CEO, Helioscreen LSW : In general, some of the sunscreen agents which are in use are uncertain on safety and efficacy. What are your views on this? Dr. Dominique Lutz : As long I know and considering the most important companies, we cannot state some ingredients are uncertain on safety. I know some debates on some of them but it is not a tremendous problem. Clearly the industries have to comply with the quality of these ingredients. The same filter (i.e. bmdbm now out of its patent) can be produced on bad conditions and include by product. But this is another story. Now considering the purpose of product including sun filters, I would totally agree we can state some products are uncertain on safety if we mean the safety is to protect the consumer from harmful UV exposure, some time it may be better not to be protected than protected by a “bad” product. And a so called bad product may be a product which claims a high SPF protection only in the UVB range. This has been the starting point to define a new way of protection including UVB and UVA and balanced effect on the all spectrum. It is far from being followed and even check with testing in some companies. LSW: Claims of water-proof, instant protection etc are misguiding users particularly when it comes to cosmetics. Your comment. Dr. Lutz : I totally agree even if cosmetics are efficient this is a pity that the marketing claims, lead the customer to be misguided for its use or the benefits he can expect from the product sometimes it may also be dangerous and claims must be controlled with attention by the authorities. As an example claim of full UV screen may induce customer not to pay attention with an over exposure. Sometimes it could be helpful and efficient to explain to the consumers as an example a product needs to be spread long before exposing and more efficient if renewed frequently in order to make it to perform “normally”. There is a chemical process and it is not enough just to spread the product at the last moment. May be the marketing should be first informed to give the good advice. LSW : Many sun screening products are available in India, but the composition details are not clear because most of them are cosmetic products. How do you propose to go about this in your foray in the Indian market? Dr. Lutz : : I think the rules in EU or other countries to exhibit CTFA formula is something logical. It is not so complicated to put in place but I think India health authorities have a lot to do to go towards international standard for claiming, demonstrating, testing etc… LSW : Unlike the US FDA and EU guidelines, in India there are no set guidelines for standardization. Some of the agents are manufactures by pharmaceuticals companies as combination products like cosmetics. Will you be focusing only on cosmetic area pertaining to skin, hair and body care? Dr. Lutz : Most of the time yes because they are these rules and guideline which are compulsory and so plenty of requirement to market a product. Nevertheless ourknow about is to measure the UV transmission (or no UV transmission) and we have had plenty of different works done on specific material. Just let me take as example textile, Sun glasses or even plaster. Let me also precise the countries in which we have the most important market are not automatically the ones in which they are the rules. In that case there is a hard competition and sometimes customers just care about the report and not the quality of the information. In Vitro AND in vivo tests can be really variable, any one would agree with this statement. At the same time, industrials or laboratories when developing need some tools to be efficient. It is not with your expertise, long experience you can guarantee a results even choosing the best ingredients. Only some specific tests most of the time different from the ones for claiming are the tolls to ensure and potentialize the results. LSW : Generally, sun screens are available in the cream. Lotion, sprays which are OTC (over the counter) products. Are you planning to look into pharmacokinetics area? Dr. Lutz : We already work with pharmaceutical companies in France. When a product needs a certification to be classified as a medicine, plenty of tests which have nothing to see with the claiming tests are required by the authorities. Also we did some method on photo stability for the Canadian health authorities etc…Clearly it also depends on the rules of each country. LSW : Now that HelioScreen is entering the Indian market, with a focus on personal care products which is a competitive market. Do you plan to look at offering your solutions to other areas also? Dr. Lutz : Considering the testing for UV protection efficiency there is so much to do and in fact no yet competitors, we prefer to be concentrated that allow us to be really a specialist as required for such a task. LSW : you share some information on HelioScreen’s partnership with C.L.A.M.S Dr. Lutz : We have had plenty of proposals from India but CLAIMS is doing the same job means TESTING and they have the serious and organization to propose complementary tests they cannot perform themselves. They have the background to explain the technique and it is not only a business opportunity but a real partnership. LSW : Finally, a brief history of your company and the future plans in India in particular. Dr. Lutz : Helioscreen has been created 15 Y ago with the only aim to propose in vitro testing services for sun screen evaluation. But at that time in EU, there were no methods, no market, and no trust in these services. Just my conviction it will be the future with my experience within COLIPA and a solid relationship with French Industries. Also the opportunity when I quit the industry to became an independent expert nearby French Health authorities and the possibility to work and contribute a lot both on a technical point of view and also political in EU Commission. Afterwards we have been logically involved in the ISO worldwide process as expert. My company has become more important and now has competitors but we have proposed the most important innovations in the development of these methods and will stay forever the forerunner. Today our contribution in RD in very huge compared to the size of my company. Also the development all over the word as these methods must be applied all over the word to be efficient. We can take for sure the future SPF standard on which we are working for decades in the international committee will have been proposed from our laboratory. LSW : Any other information that you would like to share with. Dr. Lutz : Unless in a country where there is still few constraint to put a product on the market the new requirement for sun protection claiming are more and more understood by consumers. Also keeping with the technical requirements about protection ( UVB/UVA) is not so easy, so it is better to be ready for the very next future of the legislation and requirement from consumers than wait for compulsory rules from authorities. That will make the difference. Source: Life Science World, Interview of Dr. Dominique Lutz, HelioScreens CEO, with Sanker Iyer

Sanofi India appoints N Rajaram as Country Head

Nathalie OSTERNAUD - 22-avr.-2014 09:04:41
Mumbai, April 15 Sanofi India Ltd, a global healthcare leader, today announced the appointment of N Rajaram as its Country Head and General Manager- Pharmaceutical Operations, India with effect from April 2014. Rajaram reports to Shailesh Ayyangar, Vice President- South Asia, Sanofi and Managing Director- Sanofi India Ltd, a statement issued here said. Rajaram joins Sanofi India with over two decades of experience in FMCG industry with Hindustan Unilever, and in the telecom industry with Airtel. He will be responsible for driving the company’s ambitious growth plans in the pharmaceutical and consumer healthcare segments. "The healthcare industry in India is on the threshold of major transformation- as we address the problem of increasing access to quality healthcare and medicines to our large population. Rajaram’s vast experience and consumer insights will help drive Sanofi’s growth strategy in India," Ayyangar said. Source : PTI

Biotechnology in France

Anindita BANERJEE - 08-avr.-2014 12:23:15
  Even though biotechnologies may be a recent sector of business activity, France has succeeded in developing real know-how that is gaining international recognition. When it comes to biotechnologies, the French are cutting edge. According to Leeme, the federation of French medical companies, today France numbers 388 biotechs in the health field in France. Biotech France, another French association for biotech companies, indicates that a third of these companies have been in existence for over 10 years. Yet the number of creations in this field is exponential. To get an idea, 50 companies were started in 2012. Unheard of! Proof that there is a real entrepreneurial effervescence when it comes to this research in France. Young start-ups for the most part, French biotechs are mainly Small Medium sized companies. Only 4% of them have over 100 employees. On average, they employ 22 people. As to the type of activity, most of the French companies specialized in human sciences with therapeutic products are concentrated on cancer treatments. “The French have developed a full-fledged know-how on cardio-vascular devices, infectious diseases, dermatology, blood diseases and for surgery,” explains Yves Germani, Ubifrance’s manager for the health sector in North America. French enterprises don’t just do research; they discover! Altogether, the French biotech industry generated 261 Million Euros in turnover in 2011, compared with 186 Million in 2010. As for companies on the stock market, they generate 369 Million Euros in turnover. Concerning the pipeline, the expression used to indicate the number of molecules being developed, France is 4rth, behind the United Kingdom, Germany, Switzerland and Israel. Quite a solid ranking, but which should nevertheless be improved. When their results are examined in detail, we see that depending on the stage of development, French companies create more products in the pre-clinic phase, in other words, all those that have been carried out before the clinical trial with patients, which is completely logical. Between the start of development on a new medicine, a molecule and its release on the market can sometimes take up to 10 years. Unfortunately, the consequence of this is that a number of products fall by the wayside. To be noted, however, is one undeniable fact: since 2008, French companies have sold more and more products. To put it another way, as Yves Germani points out, French companies don’t just do research; they discover!” An increase of 63% in investment Even more impressive than all the rest, French biotech companies tend to have smaller R&D budgets than their European and international competitors. Fortunately, the culture of venture capital is developing very quickly in this sector. To give the general picture, the funds raised by French biotechs have increased by 63,1% from 2009 to 2012, reaching 178 Million Euros. Since the year 2000, they have managed to raise 2.920 Billion Euros. Today, French companies are naturally turning towards international opportunities to find new partners and new financial leverage. The proof is that such Small Medium companies as Affilogic, MedinCell, Interactive Biosoftware, Imabiotech or even O4CP all have one thing in common: they all are reaching out with confidence to mature markets like the United States, Canada and Western Europe.  

Sanofi files cases against Glenmark on patent infringement

Nathalie OSTERNAUD - 12-mars-2014 07:22:18
Hyderabad, March 5th,  French drug-maker Sanofi filed patent infringement petition against Glenmark on cardiac drug Multaq, in the district court of Delaware, on three counts. According to the petition, the Indian drug maker had submitted its application to seek US Food and Drug Administration’s (USFDA’s) approval for its generic version of the drug on January 24, 2014. Sanofi and Sanofi-Aventis US LLC filed the suit against Glenmark and Dublin-based Actavis (Watson) on February 26, 2014 in the US court seeking to prevent the duo from commercialising its ANDA product prior to the expiration of certain US patents. The lawsuit was filed under the provisions of the Hatch- Waxman Act, resulting in a stay on final FDA approval of Actavis’ ANDA until Jan 1, 2017, or final resolution of the matter before the court, whichever occurs sooner, subject to any other exclusivities. Multaq, is an anti-arrhythmic drug indicated to reduce the risk of hospitalisation for atrial fibrillation (AF) in patients in sinus rhythm with a history of paroxysmal or persistent AF. For the 12 months ending December 31, 2013, Multaq had total US sales of approximately USD 319 million, according to IMS Health data. Actavis is most likely to get the 180 days exclusivity of the drug. However, based on the outcome of the court and FDA approval, if Glenmark negotiates successfully they may get shared exclusivity, Dalal said. A first-to-file status on generic application allows the generic drug firm 180 days of marketing exclusivity after the innovator patent expiry. Source PTI

Buzzinbees wins Special Jury Prize for the Most Disruptive Innovation

India - 28-janv.-2013 08:35:42
Buzzinbees won the Pôle SCS special jury prize rewarding the most disruptive innovation: its machine-to-machine (M₂M) solution lowers mobile infrastructure costs by a factor of over 100, allowing telecommunication operators to offer inexpensive M₂M communication and cater for the long tail of this explosive market. For M₂M to gain mass adoption, communication price must come at a fraction of the cost of the device, while setting up this communication must be very simple. By allowing mobile operators to reuse their existing infrastructure without adding any specific equipment and without penalizing existing telephony services, Buzzinbees enables the industry to build and market communicating objects at prices below 25 USD including lifetime subscription for M₂M communications. Today only high-end applications (luxury cars, transportation of goods, telemedicine, etc...) can benefit from M₂M communications through mobile networks while allowing operators to cover their costs; it is not possible for operators to massively offer M₂M communication under 50¢ per month and per machine. To overcome this situation, some startups have proposed to create specialized networks based on proprietary technology. With its innovative approach, Buzzinbees makes it possible to reuse existing technology and mobile networks, making commercial success much more likely. With Buzzinbees, operators can seize the market long tail, where the number of specialized applications has the upper hand on a small number of mass-market applications. Buzzinbees filed 6 key patents, making its MLR — M2M location register, the equivalent of an HLR for M2M — the lynchpin of M2M communication: operators can scale the number of connected devices into their existing networks by a factor of well over a hundred, activate them while they roam, rehome them and offer central and flexible invoicing without additional investment. Buzzinbees leveraged its flagship product — Bee-SOON — to endow its MLR with proven interoperability and unmatched scalability. About Buzzinbees Buzzinbees provides equipment and software vendors with software that enables operators to make communication simple while making the most of their networks. Buzzinbees’s network elements provide or enhance 2.5G, 3G, and 4G networks with critical capabilities. The Buzzinbees’s team boasts deep expertise that allows operators to remove risks and quickly launch proven and innovative solutions. Buzzinbees’ SIM on-off node (Bee-SOON) flagship product provides networks with automatic SIM activation. Telecommunication operators and equipment providers worldwide have used Buzzinbees’s carrier grade technology since 1988 with an installed base of over 7,000 deployed platforms in nearly all telecommunication networks of the world. More than three billion people worldwide use Buzzinbees’s technology for telecommunications. About Pôle SCS The world-class cluster for secured communicating solutions gathers actors of microelectronics, software, telecommunications, multimedia, services and uses of the information and communication technology of the Provence-Alpes-Côte d’Azur (PACA) region. Its mission is to favor the emergence of innovative collaborative projects between all the actors (researchers, industrialists, training institutions and local administrations) to design and develop new solutions which integrate components, software, networks and systems to exchange and process information in a secured and reliable way. Pôle SCS so participates in the development of the economy, the competitiveness of companies and employment by using the levers of innovation, training and partnership. Pôle SCS organizes the information and communication technology innovation competition with the support of the PACA regional council, MedInSoft, Arcsis, SAME, Telecom Valley and business incubators. For further information:   Contact: Velipekka Kuoppala, global account manager Email : Press information: Ms.Deepika PRAKASH Press Officer French Trade Commission Embassy of France, New Delhi Tel: +91 11 43 19 63 51 Email:  

Medical Imaging, an open and dynamic sector in France

Julien Compain - 14-sept.-2011 13:32:37
  Medical Imaging, an open and dynamic sector in France   The French in vivo medical imaging market is estimated to be worth around €800 million, in a global market valued at €20 billion in 2010. The market comprises three different segments: traditional imaging techniques (radiography, ultrasound), which account for 59% of the market, endoscopy (19%) and the ‘large instrument segment’ (CT, MRI, PET), which makes up the remaining 22%.   The field of biological imaging is developing rapidly, focusing in particular on:   -           functional imaging of the brain to improve the mapping of brain functions and to better understand development abnormalities and dysfunction;   -           radiobiology ,used in the fight against cancer, where research is being developed in partnership with the CEA (French Atomic Energy and Alternative Energies Commission), which has unparalleled expertise in ionizing radiation and equipment;   -           telemedicine (remote monitoring, remote consultation, and telecommunications to promote preservation of social contact) to monitor the health of patients remotely, thus supporting improved life expectancy and preventing loss of independence.   Many foreign companies in the sector have invested in the French market, including: Philips, General Electric Healthcare , Siemens Medical Solutions , Toshiba and Hitachi , Agfa Healthcare , Bioptics , Digirad and MITA . Their production facilities and research centers in France account for two-thirds of all revenues in the sector and almost 80% of all exports.   Medical imaging benefits from the research capabilities of medical and hospital environments, an area in which France has well-established advantages and prestigious players, such as the neuroimaging center NeuroSpin at the CEA, the imaging platform Mircen, hospitals such as Broussais and Pitié-Salpêtrière, and the centers of excellence at INRIA (National Institute for Research in Computer Science & Control), INRA (National Institute for Agricultural Research), INSERM (National Institute for Health and Medical Research) and the CNRS (National Center for Scientific Research).   Groundbreaking partnerships are being set up in France’s innovation clusters, often involving foreign groups. As important sources of investment attractiveness in their host regions, the following clusters are working examples of open ‘ecosystems’ for businesses: Alsace BioValley (Alsace), Atlanpole Biothérapies (Pays-de-la-Loire), Cancer-Bio-Santé (Midi-Pyrénées), Elopsys (Limousin), Eurobiomed (Provence-Alpes-Côte-d’Azur), Minalogic, Optitec and Lyonbiopôle (Rhône-Alpes), Medicen Paris Region, Cap Digital Paris Region and Systematic (Ile-de-France), Images et Réseaux (Bretagne/Pays-de-la-Loire) and Alpha-Route des lasers (Aquitaine). Over 650 foreign companies belong to one of France’s 71 innovation clusters.   This trend is backed by the existence of generous tax incentives to support innovation, in the form of France’s “Research Tax Credit” along with the “National Investment Program” launched by the French President. Under this policy, programs dedicated to health and biotechnologies, managed by the National Research Agency (NRA), have been awarded a budget of €1.55 billion. This will boost research in France by encouraging partnerships between companies and public-sector research bodies, and will accelerate the economic knock-on effects of recent advances in post-genomic technologies and the acceleration of biological data acquisition.   Major players in the sector can also count on the expertise and innovation capacity of a large number of French SMEs, which have successfully developed specialist or niche strategies. For example, the company SuperSonic Imagine is the only company in the world to offer a multiwave imaging device for use in cancer treatment. Another example is Guerbet, one of the major players in the contrast agents market, which boasts a 25% market share in Europe.   The Invest in France Agency (IFA) is the national agency responsible for promoting and facilitating international investment in France. It also coordinates initiatives to promote France’s economic attractiveness. The IFA network operates worldwide. In France, the IFA works in partnership with regional development agencies to offer international investors outstanding business opportunities and customized services. For further information, please visit   For further information, please contact: Audrey Lucbernet Invest in France Agency, New Delhi Embassy of France in India 2/50 E Shantipath Chanakyapuri - 110 021 New Delhi Tél. : +91 (0) 11 43 19 63 30 - Fax : +91 (0) 11 43 19 63 09  

World HAI Forum: Global Call to Action to Fight

Julien Compain - 12-août-2011 12:15:28
                                            World HAI Forum: Global Call to Action to Fight                                              Antibiotic Resistance Over 70 international experts in medicine, infectious diseases, microbiology and epidemiology, from every continent, gathered at the Fondation Mérieux’s Conference Center for the third edition of the World HAI Forum on healthcare-associated infections, a bioMérieux initiative. Forum participants call upon national and international health authorities and policy makers, the medical and veterinary communities, Industry, and the general public to take action to avoid an impending public health catastrophe caused by the emergence and spread of bacteria that are resistant to all antibiotics. While research to discover novel antibiotics has slowed to a virtual standstill, bacterial resistance has increased due to the massive use and misuse of antibiotics, not only for human health, but also for animals. The treatment of certain common infections is becoming difficult and the success of immunosuppressive therapies and surgical interventions (organ transplants, cardiac surgery), which are associated with a high risk of bacterial infection, could be compromised. To the Forum experts, the emergence of pan-resistant NDM-1 bacteria and epidemic of multidrug-resistant E. coli infections currently in Europe should be taken as a major public health warning, indicating that a new era of antimicrobial resistance has begun. This must lead to a global awakening: the protection of antibiotics has now entered the sphere of sustainable development. In a continuation of calls to action and proposals made by major national and international organizations (WHO, ECDC, IDSA, CDC, etc.), the Forum’s participants identified priority action areas to fight bacterial resistance and recommended 12 very concrete actions to be implemented, in the short to mid-term, to effectively address this serious problem. Priority actions for policy makers and health authorities -          For animals, stop the administration of antibiotics used in human medicine and limit antibiotics to therapeutic use only. It is imperative to reserve the most important classes of antibiotics for humans. -          Banish, in all countries, the use of antibiotics as growth promoters in animal feed. -       Regulate the sale of antibiotics for use in human medicine and prohibit over-the-counter sales worldwide. -       Have international organizations (WHO, European Union) develop a charter on good antibiotic stewardship and have all the ministries of health worldwide sign it and commit to respecting it.  Priority actions for the human and veterinary healthcare communities -       Establish standardized, universal surveillance of antibiotic use and resistance and monitor the emergence and spread of new forms of bacterial resistance. -       Include, in the medical and veterinary school curricula, a solid training in bacterial resistance and the prudent use of antibiotics and establish on-the-job training programs for healthcare workers, taking into account the cultural specificities of each country. Priority actions for the general public -       Develop culturally sensitive awareness campaigns, targeted to the general public, explaining the importance of protecting antibiotics and using them only when absolutely necessary. -       Provide education about fundamental hygiene, such as handwashing to prevent the spread of infection. It is imperative to improve sanitation systems to eliminate resistant bacteria in wastewater. -       Include consumers in the development and implementation of action plans. Priority actions for lndustry -       Develop Point-of-Care and rapid diagnostic tests, which can be used at the patient’s bedside or the doctor’s office, to guide the prescription of antibiotics and avoid their prescription for viral infections. -       Stimulate research and development of novel antibiotics. -       Find new economic models, which reconcile public health interests with Industry needs for profitability. About the World HAI Forum To hear what experts discussed at the Forum: For more information visit:   Organized from June 27-29, the 3rd edition of the World HAI Forum was characterized by the exceptional geographical diversity of its participants, coming from 33 countries.  While most meetings focus on scientific developments retrospectively in an academic format, the World HAI Forum, which is held every two years, gives participating experts a chance to do prospective analysis of subjects that are not usually discussed. More time is devoted to sharing best practices, successes and failures in the fight against multidrug-resistant bacteria, as a basis for building effective action plans. A world leader in microbiology and a pioneer in resistance detection and susceptibility testing, bioMérieux works closely with healthcare professionals in the three key areas of Infection Control: Prevention, Surveillance and Intervention. Diagnostic tests are paramount to success in the fight against infections with resistant bacteria. As part of its commitment to fight HAIs and microbial resistance, bioMérieux has also held HAI symposia around the world over the past 3 years, in countries including the United States, Belgium, the Netherlands, Portugal, Spain, China, Japan, Korea, Colombia and Saudi Arabia. In India, bioMerieux has held six sessions of the HAI Forum across the Country, under the leadership of Dr. Chand Wattal - a recognized expert - with the active participation of leading Clinicians and Microbiologists. During the discussion experts highlighted the three main threats to public health globally and in India: Gram-negative organisms, which are multi-drug resistant as there are not many antibiotics to treat these organisms, common bacteria,  like Escherichia coli: (E. coli) are now producing enzymes which make the bacteria capable of de-activating all but the antibiotics that specialists reserve as a last line of, defense. Healthcare workers themselves may be contributing to the spread of infections by failing to get flu vaccinations and, in some countries, coming to work when they are ill rather than taking sick leave. Stress was laid on the need to ensure a continuous monitoring of infection, exchange of information and the adoption of a well defined policy for the rational use of antibiotics. About bioMérieux Advancing Diagnostics to Improve Public Health A world leader in the field of in vitro diagnostics for over 45 years, bioMérieux is present in more than150 countries through 39 subsidiaries and a large network of distributors. In 2010, revenues reached €1.357 billion with 87% of sales outside of France. bioMérieux provides diagnostic solutions (reagents, instruments, software) which determine the source of disease and contamination to improve patient health and ensure consumer safety. Its products are used for diagnosing infectious diseases and providing high medical value results for cancer screening and monitoring and cardiovascular emergencies. They are also used for detecting microorganisms in agri-food, pharmaceutical and cosmetic products. bioMérieux is listed on the NYSE Euronext Paris market (Symbol: BIM – ISIN: FR0010096479). Other information can be found at . Contacts    Media Relations      bioMérieux - Koren Wolman-Tardy - Tel: + 33 4 78 87 20 08   Pure Communications - Kathryn Cook  - Tel: + 1 910-509-3976   Image Sept  - Laurence Heilbronn - Tel: + 33 1 53 70 74 64   French Trade Commission -  Press Information: Deepika PRAKASH Press Officer French Trade Commission Embassy of France 2/50 E Shantipath, Chanakyapuri New Delhi 110021 Telephone: +91 11 43 19 63 51 Email:                                                                               
Sophie Clavelier, Country Head   Welcome to the French Trade Commission Business France in India!     Our key mission is to promote trade relations between France and India. We assist French- based companies seeking potential partners and new markets in India, while helping Indian businesses to identify potential French suppliers, commercial and technical partners.   In India, our 4 offices are located in business hubs, New Delhi, Mumbai, Bengaluru and Chennai. We have a dedicated multicultural team of 38 experts in the following growing sectors: Agrofood Industry Industry and Cleantech Lifestyle and Healthcare Tech & Services Our Trade Commission also has a Press office in charge of helping French companies to communicate in India as well as a Market Access Department enabling them to better understand and adjust to the Indian regulatory and fiscal framework. In


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