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GlaxoSmithKline makes $1bn India move

17 December 2013 Last updated at 02:41 GMT

Pharmaceutical giant GlaxoSmithKline is betting big on rising demand for its products in India.

The UK company announced earlier this week that it will raise its stake in its Indian affiliate to 75% from the current 50%.

The move will cost GSK about $1bn (£614m) and shows the company remains bullish about pharmaceutical opportunities in the country.

The BBC's Sameer Hashmi reports from Mumbai.

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