China’s decision a boon for Indian pharma: BDMAI

Ongole: The Joint Secretary of the Bulk Drug Manufacturers Association of India Dr Yeluri Ramachandra Reddy welcomed China’s decision to eliminate the 30 per cent import duty on pharmaceutical products from India as a historic development.

He said that China’s decision opens new opportunities for India’s pharmaceutical industry, allowing duty-free exports to China. With the US market becoming increasingly expensive, China’s decision provides Indian companies with a strong alternative market, Dr Ramachandra Reddy explained. He analysed that this will not only strengthen India-China trade relations but also boost India’s economic growth. Given India’s crucial role in global healthcare, this financial incentive will help India secure a stronger position in the worldwide healthcare chain, he observed.

Dr Reddy said that the decision recognises the Indian pharma industry’s worldwide reputation for quality, reliability, and capability, contributing to bilateral economic development. He hoped that this result would lead to increased exports, new investment opportunities, and job creation for Indian pharmaceutical companies.