Regardless that pharma imports from India into the US have been exempted from the levy of reciprocal tariffs by the US administration, warning and long-term measures are the necessity of the hour, based on R Uday Bhaskar, former director normal of Pharmaceutical Exports Promotion Council (Pharmexcil).
“In the mean time, the strengths of Indian Pharmaceutical trade may need led to exemption of pharma from the record of reciprocal tariffs introduced by the US administration,’‘ he advised businessline on Thursday.
“Whereas it is a welcome transfer, we nonetheless must be careful for additional developments within the US tariff coverage as negations are nonetheless on and new selections on tariff coverage can’t be dominated out,’‘ he added.
As of now, India imposes about 10 per cent tariff on the imports from the US whereas there’s zero tariff on our exports (imports into the US).
For a wholistic development of pharma trade, there’s additionally a necessity for long-term measures resembling decreasing the dependence on the US Generics market by broad-basing the exports to markets past the US, he stated.