In a major development, China has slashed the 30 percent import duty on Indian pharmaceutical products to zero. This landmark step will allow Indian drug manufacturers to export medicines to China without paying any customs duty. Experts say this decision could boost Indian pharma exports by billions of dollars in the coming years. The announcement comes just after US President Donald Trump imposed a 100 percent tariff on pharma imports, a move that could hurt India’s large drug-exporting industry. With the US market becoming costlier, China’s decision offers Indian companies an alternative market with strong demand for affordable medicines. India is known as the ‘pharmacy of the world,’ supplying affordable generic drugs and vaccines across the globe.
