Angered by the friendship between India and Russia, the US is trying to scare India by taking tough steps one after the other. Just hours after the announcement of 25 percent tariff and additional fine on India, US President Donald Trump announced a trade agreement with Pakistan. He mentioned a joint initiative to develop oil reserves in India’s terrorism refugee neighboring country and also said that “someday” can sell oil to Islamabad New Delhi.Donald TrumpThis attitude of the US is expected not only to India but also in many ways.
The Indian Drug Export Promotion Council (Pharmaccil) said on Thursday that the cost of 25 percent of the products of President Donald Trump on August 1 will increase the cost of essential medicines in the US by imposing a 25 percent fee and a fine on fines, which will eventually harm the consumers and healthcare systems of that country.
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Pharmacil Chairman Namit Joshi said in a statement that the American market is very much dependent on India for active drugs (APIs) and low -cost generic drugs. He is facing a lot of difficulty in finding an alternative source which can match India’s widespread level and quality.
US President Donald Trump on Wednesday announced a 25 percent fee on India from August 1 amid signs of some deadlock in a conversation between the two countries on the bilateral trade agreement (BTA). Apart from this, Trump has also decided to impose additional fine for buying military equipment and crude oil from Russia. This announcement is being seen as a strategy to pressurize India to accept America’s demands.
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Reacting to this development, Joshi said that India has long been the basis of the global supply chain of affordable, high quality drugs. Especially in the generic drug market, where it supplies about 47 percent of the US drug requirements. He said, “Indian pharmaceutical companies play an important role in ensuring availability of essential medicines including life -saving cancer medicines, resistant medicines and treatment of chronic diseases.”
Joshi said, “Any disruption in this supply chain will essentially lead to lack of drugs and their prices, which will eventually harm American consumers and healthcare systems.” He said that the immediate results of these fees rates are likely to increase the cost of essential drugs but “long -term effects will be even more serious.
American market is very much dependent on India for active drug material (API) and low -cost generic medicines. He is facing a tough challenge in finding an alternative source which can match India’s widespread level, quality and affordable prices. In addition, he said, “efforts to transfer drug manufacturing and API production to domestic sources in other countries or the US may take several years. At least three to five years…. ”
Joshi said that Pharmaccil is committed to advocating the interests of Indian drug exporters and global healthcare community. He said, “We are continuing talks with policy makers to emphasize the unavoidable role of Indian pharmaceutical companies in meeting the importance of cheap access to drugs and increasing global demand for necessary medicines.
(Note- PTI information)