New Delhi– The Indian pharmaceutical industry, which supplies 80 percent of the world’s generic medicines, will not face any significant losses from US President Donald Trump’s newly imposed tariffs, according to Dr. N.K. Ganguly, former Director General of the Indian Council for Medical Research (ICMR).
Ganguly’s comments come amid concerns over the tariff hike on Indian goods to 50 percent.
“If any country in the world increases tariffs, it does not benefit them — the loss is suffered by that country only,” Ganguly told IANS. “India provides medicines at the cheapest rates and also exports them widely.”
The veteran microbiologist noted that drug prices in Europe and North America are significantly higher because those countries do not produce generic drugs domestically, given the high costs of labor and manufacturing facilities. As a result, they rely on imports from countries like India.
“In this situation, India will not suffer losses from the US tariff. The real loss will be for those who have imposed it, as their people will end up paying more for essential medicines,” Ganguly said.
He also pointed out that India has reduced tariffs on life-saving drugs it produces, ensuring that countries in need can access them affordably.
The US initially imposed a 25 percent duty on Indian goods starting August 7, with an additional levy scheduled to take effect on August 27. The tariffs are expected to make a range of Indian exports — including shrimp, organic chemicals, carpets, and apparel — more expensive in the US market.
Ganguly stressed that drug prices in India remain low due to the government’s pricing policies and support programs, such as the Pradhan Mantri Jan Aushadhi Yojana, which provides medicines at reduced rates through government-run pharmacies.
“I don’t see any adverse impact on India’s pharmaceutical exports,” he concluded. (Source: IANS)
