Daijiworld Media Network – New Delhi

New Delhi, Apr 3: Industry experts have welcomed the recent announcement by the United States to grant reciprocal tariff exemptions on Indian pharmaceutical exports, a move expected to significantly boost the sector’s growth and global competitiveness.

The exemption, hailed as a positive step towards enhancing trade relations between the two nations, is seen as a major relief for Indian pharmaceutical manufacturers who have long faced tariff barriers in the US market. Experts believe this development will encourage higher export volumes and open new avenues for Indian pharmaceutical companies.

Dr Raghavendra Shetty, an industry analyst, remarked, “The US’s decision to grant tariff exemptions is a commendable move that acknowledges the quality and importance of Indian pharmaceutical products. This will certainly bolster our exports, but we must also focus on strengthening our domestic manufacturing capabilities to sustain long-term growth.”

Stakeholders from the pharmaceutical industry have also urged the Indian government to capitalize on this opportunity by investing in research and development, enhancing manufacturing infrastructure, and ensuring regulatory compliance to meet international standards.

“While tariff exemptions are encouraging, our focus should be on developing a robust manufacturing ecosystem that caters to both domestic and international demands. Quality assurance and technological advancements are essential to retain our competitive edge,” stated Dr Anitha Rao, a senior pharmaceutical consultant.

The industry has called for comprehensive policy support to improve domestic manufacturing capabilities and boost the sector’s contribution to the global pharmaceutical supply chain.