While Indian pharmaceutical exports are currently exempt from President Donald Trump's tariffs of up to 50%, growing uncertainty and tensions between the countries have kept the industry cautious, Reuters reported.
Referring to the U.S. tariffs, Pharmexcil Chairman Namit Joshi said, "It is a matter of concern for us."
The Pharmaceuticals Export Promotion Council of India (Pharmexcil) also plans to push for sales of finished goods to China to bridge the trade deficit, the officials said. The Indian industry imports more than 60% of its raw materials and active pharmaceutical ingredients from China.
The U.S. is India's largest market and accounts for slightly more than a third of India's pharmaceutical exports, which comprise mainly cheaper generic versions of popular drugs. Exports to the country rose 20% to about $10.5 billion in fiscal 2025.
"The point is how medium and small enterprises and big companies can come together and work on those (semi-regulated)markets," Bhavin Mehta, Pharmexcil's vice chairman, said on the sidelines of a conference.
In addition to targeting semi-regulated markets, India is also planning to boost its pharmaceutical exports to Russia, Brazil, and the Netherlands
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