India Eyes Expansion of Pharmaceutical Exports Amid Tariff Concerns
India is planning to diversify its pharmaceutical export markets due to tariff uncertainties with the U.S. The country is targeting Russia, Brazil, and the Netherlands, among others, to expand its presence. This move comes as India's exports to the U.S. remain substantial, though diversification is seen as essential for growth.
India is setting its sights on expanding pharmaceutical exports to countries like Russia, the Netherlands, and Brazil, as per two informed industry sources. This strategy aims to diversify beyond the U.S., currently its largest market, amid concerns over fluctuating tariffs.
The pharmaceutical sector in India, although exempt from the 50% tariffs imposed by former U.S. President Donald Trump's regime, remains vigilant due to ongoing trade uncertainties. Notably, the U.S. comprises over one-third of India's pharmaceutical exports, primarily comprising cost-effective generic drugs, with sales reaching $10.5 billion in fiscal 2025.
Industry insiders suggest significant potential for export growth in alternative markets by 20%, leveraging India's robust drug manufacturing capacity. Upcoming discussions on regulatory challenges at the International Pharmaceutical Exhibition in New Delhi aim to facilitate this transition.
(With inputs from agencies.)
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