New Delhi, 3 April (IANS). Indian drug exports are exempted from Donald Trump’s reciperook tariff. Industry experts welcomed the move on Thursday and stressed the need to strengthen domestic manufacturing.
Experts cited the importance of Indian generic drugs cost -effective and life -saving Indian generic medicines for this tariff exemption.
The White House factories released on Wednesday, after the announcement of 26 percent reciperoch tariff on imports from India by US President Donald Trump, said that pharmaceuticals have been exempted from tariffs.
Indian drugs, especially generics, help reduce the cost of the US healthcare system, already included the most expensive drugs in the world.
Sudarshan Jain, general secretary of the Pharmaceutical Alliance (IPA) of India, said, “Bilateral trade relations between India and the US are strong, with a shared approach to double the trade under the Mission-500 initiative. Pharmaceuticals are the basis of this partnership, because India plays an important role in virtuous and American health services.
“Pharmaceuticals are exempted from tariffs,” he said, this decision underlines the important role of life -saving generic drugs cost -effective in public health, economic stability and national security. “
According to data released by the India Brand Equity Foundation (IBEF), the US is the largest importer of pharmaceuticals from India, which brought products worth $ 8.73 billion during FY 2024. The IBEF said that 31.5 percent of India’s pharmaceutical exports went to the US. Jain said that the Indian pharmaceutical industry is committed to pursue the common priorities of both countries.
He said that the country will strengthen the flexibility of the drug supply chain and will strengthen national security by ensuring access to cheap medicines for all. “
According to data from the Export Promotion Council of Medical device, in 2023-24, India’s medical device exports to the US were $ 714.38 million, while imports from the US to India were significantly higher than $ 1,519.94 million.
AIMED forum Coordinator Rajiv Nath said, “The US can be a significant challenge for the development of the region by imposing 26 percent recipe on Indian medical devices on Indian medical device exports.”
Nath said, “Historically, India has been a major supplier of cost-effective, high quality and low-volume medical devices for the US. However, this new tariff can probably affect the export of Indian medical equipment. We have to find out the situations where the US is trying to diversify its supply chain dependence on a country.”
He stressed the need to prioritize healthcare safety by strengthening domestic manufacturing and reducing dependence on foreign markets.
-IANS
SKT/ABM
