Commerce Ministry for 'medicines for oil' barter system with Venezuela

The government is 'in favour' of a 'medicines for oil' barter system with Venezuela where Indian pharma exporters could not be able to repatriate their sales revenues due to restrictions imposed in that country, a senior Commerce Ministry official has said. Both the commerce and finance ministries are currently engaged in discussion on the issue, Pharmaceuticals Export Promotion Council of India (Pharmexcil) Director General P V Appaji said. More…