Trump's tariff will wreak havoc on life saving medicines too, know how it will affect India:

Trump Tariff: The havoc of tariffs imposed by US President Donald Trump has created a stir in the global market. Although pharmaceuticals were exempted from the tariff, President Trump has indicated that he will soon impose a big tariff on it.

India's industry has been heavily dependent on exporting medicines to the US. In such a situation, if Trump imposes tariffs on it, it can have a big impact. During a program of the National Republican Congressional Committee, President Trump said that imposing tariffs will encourage pharmaceutical companies to work in the US.

According to the Pharmaceutical Export Promotion Council of India, America has been a major export market for Indian medicines. In the financial year 2024, India exported medicines worth $ 27.9 billion worldwide, out of which about 31% i.e. $ 8.7 billion was exported to America alone.

According to reports, India supplies about 45% of generic medicines and 15% of other medicines to the US. Pharmaceutical companies like Dr. Reddy's, Aurobindo Pharma, Zudus Lifesciences, Sun Pharma and Gland Pharma earn 30 to 50 percent of their total revenue from the US.

Experts cautioned that if tariffs are imposed on medicines by the US, it will affect both Washington and New Delhi. This will increase the cost of production, competitive pricing for the producer will end and the consumer will have to pay a higher price.

HDFC Securities experts told financial daily Mint that if tariffs are imposed on pharma by the US, it will have a negative impact on both countries.