US pharma tariffs to have limited impact in India: Govt to panel

NEW DELHI: The Union commerce ministry told a key parliamentary panel Monday that US tariffs on India’s pharma exports will have a limited impact because India largely exports “generic drugs” instead of “patented drugs” that will bear the brunt of the US decision. At a meeting of the Public Accounts Committee, a top commerce ministry official, who has been engaged with the US on trade deal negotiations, is learnt to have said that fresh US pharma tariffs are applicable to all exporters worldwide with the exception of the European Union (EU), and India’s principal rival China is also subject to the same tariff regime. “It neutralises any relative disadvantage for India,” he reportedly said. Though the agenda for the meeting was a discussion on the performance audit of “export promot