NEW DELHI: India is bracing for attainable disruptions to its pharmaceutical trade – the place the American market accounts for nearly a 3rd of exports – throughout Donald Trump’s presidency.
Among the many corporations that manufacture generic medicines and exports its merchandise to america is Bangalore-based pharmaceutical firm Bioplus Life Sciences.
It’s a essential a part of its enterprise that brings in a considerable chunk of the corporate’s annual income of practically US$1 million. Nevertheless, the agency’s chairman Sundeep Aurora is just not discounting that its takings might be impacted by Trump’s tariffs.
“You are going to have a ten to twenty per cent price enhance, maybe into the US. And positively, there’s going to be a realignment of provide chains world wide,” he mentioned.
Made-in-India generic medicines made up practically half of all prescribed drugs within the US in 2022, in keeping with the Indian Pharmaceutical Alliance. They accounted for about US$8.7 billion price of pharma exports from India to the US within the earlier monetary yr.
Trump, who will be sworn in because the US’ forty seventh president on Monday (Jan 20), has pledged to impose reciprocal tariffs in retaliation for the excessive tariffs imposed by India on imports of some American merchandise.
Indian drugmakers are additionally anxious about Trump’s America First coverage, which may see a lift in home manufacturing and fewer want for Indian exports.