Commerce Ministry Engages Exporters After US' Pharma Tariff Threat — Profit Exclusive
Commerce Ministry is actively engaging with Indian pharmaceutical exporters in response to potential US tariffs on the sector, people in the know told NDTV Profit.
While marginal tariffs might be manageable, higher tariffs could severely impact the profit margins of Indian pharmaceutical companies, the aforementioned sources said.
The US imports a significant portion of its drugs, and any tariff imposition would likely have a substantial impact on US consumers.
India exports approximately $9 billion worth of pharmaceuticals to the US, supplying around 40% of all generic drugs used in the country.
In a recent statement, US President Donald Trump warned of upcoming "never seen before" tariff levels on the pharmaceutical sector, raising concerns about the future of Indian pharma exports to the US market.
This after US President Trump on April 2 enacted a series of tariffs aimed at various sectors. These include a 25% tariff on all imported cars and light-duty trucks, and a 10% minimum tariff on other imported goods. India has been slapped with a compound reciprocal tariff rate of 26% in the same light.
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