Health industry heavyweights in India expressed delight over the interim India-US bilateral trade framework unveiled Saturday, viewing it as a game-changer for exports amid global tensions.
The pact reduces US tariffs on Indian goods to 18 percent overall, scrapping them entirely for generic medicines, precious stones, and aircraft spares. Analysts call it India’s ‘top-tier’ agreement, outpacing rivals and signaling robust diplomatic gains.
Speaking for AiMeD, Rajiv Nath lauded the barrier-busting joint declaration. He revealed stark import figures: US at ₹14,000 crore edges out China at ₹12,000 crore. India’s US exports: $750 million; imports: $1.6 billion. Yet, US devices bypass delays Indian ones face via CDSCO.
‘FDA’s ACSA tilt over NABL creates unfairness,’ Nath argued, listing woes like Chinese dumping, EU red tape, Japanese currency woes, Indonesian favoritism, and local regulatory snags. ‘Fair play will supercharge mutual innovation,’ he advocated.
Pharma gains are tied to Section 232 outcomes, with no generic tariffs in sight. IPA’s Sudarshan Jain affirmed: ‘India-US pharma ties are vital; drug safety underpins national defense. This mirrors FTA protocols.’
As the framework unfolds, it promises not just economic uplift but a blueprint for resilient health trade. Expect ripple effects on pricing, innovation, and supply stability, with eyes now on finalizing the full accord.