India’s pharmaceutical industry is likely to miss its sales target for the end of the decade as US tariff uncertainty and Middle East shipping disruptions weigh on exports, according to the head of a government-backed trade body.
Impact on Exports
The sector is now expected to reach $80 billion to $90 billion by 2030, well below an industry target of $130 billion set in April last year. Indian drug exports face uncertainty over possible US tariffs and longer shipping routes after the conflict in the Middle East forced cargoes to avoid the Red Sea, raising freight costs and transit times.
Often called the “pharmacy of the world”, India is a major supplier of generic medicines to the United States, accounting for nearly half of all generic prescriptions filled in the US in 2022. US President Donald Trump said last month all imported generic drugs would continue to face a 0% tariff for two years from August 1, after which the rate would rise to 100% for one year and 200% thereafter.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
