BENGALURU: In a boost to India’s pharmaceutical industry, the US government has decided to exempt pharma products from tariffs.
Welcoming the development, Biocon Chairperson Kiran Mazumdar-Shaw emphasized the positive implications for the sector. “I welcome the US government’s decision to exempt Indian pharmaceutical products from tariffs, which underscores the strong bilateral relationship between India and the US, as well as the critical role of the Indian pharmaceutical sector in enhancing public health,” she stated.
“The emphasis on affordability, accessibility and availability of lifesaving medicines is particularly important, as it resonates with the shared priorities of both nations. It is also encouraging to see the alignment with the ambitious Mission 500 initiative aimed at doubling trade between our countries by 2030,” she added.
The exemption is expected to provide a competitive edge to Indian pharmaceutical firms in the US market, reinforcing India’s position as the ‘pharmacy of the world’. Experts believe this move will help strengthen supply chains and lower healthcare costs.
The decision comes against the backdrop of growing Indo-U.S. cooperation in trade and healthcare, with both nations recognising the need for a resilient and cost-effective pharmaceutical supply chain.