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NEW DELHI – The Indian pharmaceutical industry is well-positioned to withstand the impact of tariffs imposed by President Donald Trump, according to Dr. N.K. Ganguly, the former Director General of the Indian Council for Medical Research (ICMR). Dr. Ganguly stated that any country increasing tariffs on essential goods like medicines would ultimately bear the cost, not the exporting nation like India.
In an interview, Dr. Ganguly highlighted India’s crucial role as a global supplier of generic medicines. “India is the largest provider of generic medicines globally, accounting for 80% of the world’s supply,” he noted. He explained that countries in Europe and North America often find it expensive to produce generic drugs domestically due to high manufacturing and labor costs, making them dependent on imports from countries like India.
According to Dr. Ganguly, the tariffs would lead to higher drug prices for American consumers, causing a loss for the US public rather than for the Indian pharmaceutical sector. He emphasized that India’s internal pricing policies and government initiatives, such as the Pradhan Mantri Jan Aushadhi Yojana, ensure affordable access to medicines for its own citizens and those in need around the world.
The comments come in the wake of the initial 25% duty on certain Indian goods, which took effect recently, with further levies expected. While these tariffs will make various Indian products more costly in the US market, Dr. Ganguly’s perspective suggests that the unique position of the Indian pharma sector as a low-cost, high-volume supplier of generic drugs provides a strong buffer against such economic pressures.
Disclaimer: This article is based on the expert opinion of Dr. N.K. Ganguly, former Director General of the Indian Council for Medical Research. The views expressed are his own and do not necessarily reflect the official policy or position of any organization. Readers are advised to consult with relevant experts and official sources for the latest information on trade policies and their impact.
Reference: Indian pharma sector will not suffer any loss due to Trump tariff: Former ICMR chief
