India-US Pharmaceutical Trade Boost: Exclusion from US Tariffs Marks Progress

The Indian Pharmaceutical Alliance (IPA) cheers the exclusion of pharmaceuticals from US tariffs, showcasing strengthened India-US trade relations. This move supports the Mission 500 initiative to elevate bilateral trade to USD 500 billion. US tariffs on other sectors and countries highlight ongoing trade challenges and partnerships.

The Indian Pharmaceutical Alliance (IPA) has hailed the United States' decision to exclude pharmaceuticals from newly imposed tariffs. This development marks a pivotal moment for India-US trade relations, with Secretary General Sudarshan Jain pointing to the Mission 500 initiative's goal of doubling bilateral trade to USD 500 billion as a key factor.

In a statement, Jain highlighted the foundational role of pharmaceuticals in India's contribution to global and US healthcare, emphasizing the importance of affordable medicine supplies. He welcomed the tariff decision, calling it a testament to the significance of cost-effective generic medicines in public health and economic resilience.

US President Donald Trump recently announced new import tariffs, with specific mention of a 26 percent rate on India. While addressing the Make America Wealthy Again Event, Trump noted high tariff charges by several countries compared to the US's relatively low tariffs.

(With inputs from agencies.)