New Delhi, Aug 12 (IANS) — The Indian pharmaceutical industry, which supplies 80 per cent of the world’s generic medicines, will not face losses from the steep US tariffs announced by President Donald Trump, former ICMR Director General Dr. N.K. Ganguly said on Monday.
Responding to concerns over tariffs on Indian goods being raised to 50 per cent, Ganguly noted that such measures often hurt the imposing country more. “If any country increases tariffs, the loss is suffered by that country. India provides medicines at the cheapest rates globally and exports them in large volumes,” he told IANS.
He explained that drug prices are already high in Europe and North America, where the production of generics is limited due to high costs of manpower and manufacturing facilities. “As a result, generic drugs are imported from countries like India. The tariff will not harm us — the loss will be to those who imposed it,” he said.
India has reduced tariffs on life-saving drugs it produces, ensuring that countries in need can access them easily. Ganguly stressed that higher US tariffs will ultimately raise medicine prices for Americans.
The initial 25 per cent duty on Indian exports to the US took effect on August 7, with an additional levy set for August 27. While the tariffs will make products like shrimps, organic chemicals, carpets, and apparel costlier in the US market, Ganguly reiterated that India’s drug sector remains secure.
He attributed India’s low drug prices to strict pricing policies, government schemes, and initiatives like the Pradhan Mantri Jan Aushadhi Yojana, which provides affordable medicines through government-run pharmacies.
