India Looking Beyond USA For Pharma Exports Amid Tariff Tensions

NEW DELHI -India is seeking to boost drug exports to semi-regulated markets in Africa, Latin America and Southeast Asia to reduce its dependence on the USA, where tariff concerns pose risks, officials from a government-backed trade body told Reuters on Thursday. The Pharmaceuticals Export Promotion Council of India (Pharmexcil) also plans to push for sales of finished goods to China to bridge the trade deficit, the officials said. The Indian industry imports more than 60% of its raw materials and active pharmaceutical ingredients from China. While Indian pharmaceutical exports are currently exempt from President Donald Trump's tariffs of up to 50%, growing uncertainty and tensions between the countries have kept the industry cautious.

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