Reacting to this, RK Aggarwal (National President, Bulk Drugs Manufacturers Association of India) said that it will have no impact on the pharma sector.
The Indian stock indices closed Thursday's session lower, weighed down by the heat of the US administration's reciprocal tariffs imposed on partner countries, including India.
Faced with President Donald Trump's reciprocal tariffs, India on Thursday said it is studying the opportunities that may arise from this new development in US trade policy.
US President Donald Trump's reciprocal tariffs will impact the American economy more, leaving them with limited buying options to cater for their needs, Ranjeet Mehta, CEO and Secretary General of industry body PHDCCI, told ANI.
The imposition of reciprocal tariffs by the US President Donald Trump is set to slow down global trade significantly, according to a report by HSBC Research.
"... The friendship between them (US President Trump and PM Modi) and the way they embrace each other and talk and now these tarriffs. It shows that America (Donald Trump) is a businessman. 'Aur wo humara customer phas gaya'. (And our customers are getting trapped."
India is not so badly impacted by the imposition of tariffs by the US, which was announced by President Donald Trump on April 2, said ASSOCHAM president Sanjay Nayar.
As the US President, Donald Trump, mandates a 27 per cent tariff on Indian goods to his country, the economists and economy watchers have opined that exporters will face relatively less trouble, as amongst major EMs in Asia, tariffs on India is the lowest, barring the Philippines.
The imposition of higher reciprocal tariffs by US President Donald Trump on several Asian and European countries, including China, Vietnam, Taiwan, Thailand, and Bangladesh, presents a strategic opportunity for India to strengthen its position in the global trade and manufacturing says GTRI
Congress MP Gaurav Gogoi on Thursday moved an adjournment motion in the Lok Sabha, seeking an immediate discussion on the United States' decision to impose retaliatory tariffs on Indian exports. The move follows US President Donald Trump's announcement of a 26% reciprocal tariff on Indian go