25% of American tariffs imposed on India will affect many sectors of the country. Its effect will also be seen on the pharma sector, but this effect will be in America. The Indian Pharmaceutical Export Promotion Council (Pharmaxil) said that the cost of the required medicines in the US will increase by imposing 25 percent tariff on all products coming from India from August 1 of President Donald Trump. Due to this tariff, the consumers and health sector of America will be damaged in the coming time.
Pharmacil Chairman Namit Joshi said in a statement that American market is very much dependent on India for drug raw materials and low -cost generic drugs. He is facing a lot of difficulty in finding alternative avenues which can match India’s widespread level and quality.
Donald Trump so imposed tariff
US President Donald Trump has announced this tariff on India at a time when negotiations are going on between the two countries on the bilateral trade agreement (BTA). This tariff is being considered a sign of some obstacles in the conversation. Apart from this, Trump has also decided to impose additional fine for buying military equipment and oil from Russia. It is believed that America has imposed this tariff on India to convince its demands.
America gets 47 percent of medicines from India
The chairman of Pharmacill said that India has been supplying affordable and quality drugs to the world for a long time. The US fulfills 47 percent of the total needs of its generic medicines through India. Pharmaxil said that Indian pharmaceutical companies play an important role in providing life -saving cancer medicines, antibiotics and chronic diseases at affordable prices. Any type of blockage in this supply chain will cause lack of drugs and increase their prices, causing damage to American consumers and health service sectors.