Dr. N.K. Ganguly, the former Director General of the ICMR, states, the Indian pharmaceutical industry, which provides 80% of the generic medications used worldwide, will not be negatively impacted by the tariffs imposed by US President Donald Trump.

The comments made by the former Indian Council for Medical Research (ICMR) coincided with worries about Trump’s decision to raise tariffs on Indian goods to 50%.

“Any country in the world that raises tariffs does not gain from it since only that nation suffers the damage. India is a nation that exports and offers medications at low prices, Ganguly told.

According to the renowned microbiologist, drug costs are extremely exorbitant in other nations, whether they are in North America or Europe.

Additionally, they don’t produce generic medications since doing so necessitates expensive labor, a factory, etc. Generic medications are imported from foreign nations under such circumstances.

India will therefore not incur any losses as a result of this (US) tax. Since the majority of drugs are made in India, which offers the cheapest prices for pharmaceuticals, the people who imposed this levy would suffer the consequences, Ganguly said.

To make it easier for the nations that require them to obtain them, India has also lowered the tariff on life-saving medications that are produced there.

Therefore, “the country that has increased the tariff will suffer losses to its people because they will get medicines at higher rates“, the former ICMR chief said.

The new levy will go into force on August 27th, whereas the initial 25% duty on the export of Indian goods to the US went into effect on August 7th.

Increased tariffs will drive up the price of Indian products in the US market, including carpets, organic chemicals, shrimp, knitted and woven clothing, and more.

Ganguly claimed that because India has a pricing policy for medication production, drug prices are low there.

“The government also runs a number of programs that allow consumers to purchase medications at reduced costs. In addition, under the Pradhan Mantri Jan Aushadhi Yojana, the government-run pharmacy offers medications at reduced prices, the expert pointed out.