US Exempts Indian Pharma from Tariffs: A Lifeline for Affordable Medicine
The US has temporarily exempted Indian pharmaceutical exports from increased tariffs, highlighting India's vital role in providing affordable medicines. Despite the tariff threat, India's generics are crucial for the US market. The partnership is key in maintaining global pharmaceutical supply chains and healthcare resilience.
- Country:
- India
The US has announced a temporary exemption for Indian pharmaceutical exports from new tariffs, recognizing India's pivotal role in offering affordable medicines to Americans, Pharmexcil stated Thursday.
The recent US decision follows the imposition of an additional 25 per cent tariff on Indian imports, effective August 27, compounding the existing 25 per cent duty to a total of 50 per cent. India's generics, constituting over 40 per cent of US supplies, include crucial treatments for chronic diseases, cancer, and infections.
Pharmexcil warned that imposing tariffs on Indian pharmaceuticals could backfire, increasing costs for American consumers. With over 700 US FDA-approved facilities, India exports 55 per cent of its pharmaceuticals to regulated markets, proving its commitment to quality, compliance, and affordability, emphasized Chairman Namit Joshi.
(With inputs from agencies.)
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