365Telugu.com online news,New Delhi, March 26th,2025: Rajya Sabha MP B Parthasaradhi Reddy has raised concerns over the potential economic impact of the United States’ proposed reciprocal tariffs on Indian pharmaceutical exports. Addressing the House, he emphasized that such a move could disrupt one of India’s key economic sectors, leading to job losses and a decline in foreign exchange earnings.
The United States is India’s largest importer of pharmaceutical products, accounting for over 31% of total pharma exports. In 2023-24 alone, Indian pharmaceutical exports to the US were valued at approximately $9 billion (₹74,000 crores).
ఇది కూడా చదవండి..భాగస్వాముల ఎంగేజ్మెంట్ను పెంపొందించేందుకు హైదరాబాద్లో ‘సంవాద్’ ప్రారంభించిన పీబీ పార్ట్నర్స్
Read this also…PBPartners Brings ‘Samvaad’ to Hyderabad, their flagship event for Stakeholder Engagement
Any reciprocal tariffs imposed by the US could make Indian medicines costlier, reducing their competitiveness in the American market and threatening the global reach of India’s generic drug industry.
Shri Reddy warned that higher costs due to tariffs could result in declining sales for Indian pharmaceutical companies, especially in the generic drugs segment, which relies on competitive pricing. Lower market share, shrinking profit margins, and investment setbacks could put thousands of jobs at risk across manufacturing, research, and distribution sectors.
ఇది కూడా చదవండి…భారత వినియోగదారుల కోసం ప్రత్యేకంగా పరీక్షించిన OPPO F29 సిరీస్ – డ్యూరబుల్ ఛాంపియన్ భారత్లో లాంచ్!
Read this also…Tested in India, Made for India – OPPO F29 Series, the Durable Champion launched in India
To safeguard the interests of the Indian pharmaceutical industry, Shri Reddy proposed several measures:
- Diplomatic Negotiations – The Indian government must engage with the US to address concerns through diplomatic channels. Highlighting the mutual benefits of affordable medicines, India should advocate against the proposed tariffs to prevent supply chain disruptions.
- Free Trade Agreement (FTA) – India should work towards a comprehensive Free Trade Agreement with the US, prioritizing the pharmaceutical sector. Strengthening platforms like the US-India Trade Policy Forum is also crucial for resolving trade disputes.
- Support for Indian Pharma Companies – To mitigate the impact of tariffs, the government should provide financial incentives, tax breaks, and subsidies, helping Indian pharmaceutical firms maintain their competitiveness.
- Boosting Innovation & Efficiency – The industry must focus on cost optimization, automation, and R&D investments to drive innovation. Special financial support for pharmaceutical research will enable India to develop advanced drug formulations and maintain a competitive edge globally.
Concluding his speech,B Parthasaradhi Reddy urged the Government of India to act swiftly to protect the domestic pharmaceutical sector. Given India’s reputation as the “pharmacy of the world,” timely intervention is essential to ensure continued global access to affordable medicines and to prevent any adverse impact on the country’s economic growth.