Even though pharma imports from India into the US have been exempted from the levy of reciprocal tariffs by the US administration, caution and long-term measures are the need of the hour, according to R Uday Bhaskar, former director general of Pharmaceutical Exports Promotion Council (Pharmexcil).
“At the moment, the strengths of Indian Pharmaceutical industry might have led to exemption of pharma from the list of reciprocal tariffs announced by the US administration,’‘ he told businessline on Thursday.
“While this is a welcome move, we still need to watch out for further developments in the US tariff policy as negations are still on and new decisions on tariff policy cannot be ruled out,’‘ he added.
As of now, India imposes about 10 per cent tariff on the imports from the US while there is zero tariff on our exports (imports into the US).
For a wholistic growth of pharma industry, there is also a need for long-term measures such as reducing the dependence on the US Generics market by broad-basing the exports to markets beyond the US, he said.
