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Time of India
15 hours ago
- Business
- Time of India
Pharma downplays 25% tariff impact: US healthcare could feel the blow instead of India- what sector experts say
AI-generated image India's pharmaceutical sector has given its insights into US President Donald Trump's announcement of a 25 per cent tariff on all Indian imports starting August 1, warning that the move could significantly disrupt American healthcare rather than weaken Indian industry. While uncertainty remains about whether pharmaceuticals will fall under the new tariff list- given Trump's April declaration that excluded essential drugs- the reaction from Indian pharma stakeholders has been swift and pointed. 'He is trying to kill the market of the Indian economy, but it is not going to happen,' said Dilip Kumar, Chairman of the Chamber of Commerce's Medical Tourism wing, speaking to ANI. 'We are exporters, especially of medical equipment, pharmaceuticals, and disposables, which mostly come from India. The American market is dependent upon Indian and Chinese markets," he added. Kumar also said that, 'India won't be impacted, as we will go by the route of exporting to European countries. We can survive in the toughest times and bounce back." Also read: 25% tariff on India; 'dead economies' jibe, trade deal with Pakistan & more – Key points Echoing these sentiments, Pharmaceuticals Export Promotion Council of India (Pharmexcil) Chairman Namit Joshi issued a statement through PTI highlighting India's indispensable role in the US drug supply chain. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo 'India has long been a cornerstone of the global supply chain for affordable, high-quality medicines, particularly in the generic drug market, where it supplies nearly 47 per cent of the pharmaceutical needs of the US,' said Joshi. 'Indian pharmaceutical companies play a vital role in ensuring the affordability and availability of essential medications, including life-saving oncology drugs, antibiotics, and chronic disease treatments,' he added. Joshi warned that the immediate fallout of the tariff move would be rising drug prices and possible shortages in the US. 'Any disruption to this supply chain will inevitably lead to shortages and escalating prices, ultimately harming US consumers and healthcare systems.' He noted that while the short-term impact would be painful, the long-term risks were even more serious. 'The long-term impact will be even more severe. The US market, heavily reliant on India for Active Pharmaceutical Ingredients (APIs) and low-cost generics, faces a daunting challenge in finding alternative sources that can match the scale, quality, and affordability that India offers," Joshi said continuing his insights. Efforts to transition manufacturing and API production to other countries or domestic facilities in the US could take 'at least 3–5 years before meaningful capacity can be established,' he cautioned. Despite the uncertainty, Pharmexcil said it remained committed to working with stakeholders to maintain India's role as a reliable supplier of affordable medicines. 'We continue to engage with policymakers to emphasise the importance of affordable access to medicines and the indispensable role Indian pharmaceutical companies play in meeting the growing global demand for essential drugs,' Joshi said. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
18 hours ago
- Business
- Time of India
Trump's tariff move on India may backfire, pharma industry leaders say
The Indian pharmaceutical industry has hit back strongly at the recent tariff announcement by U.S. President Donald Trump , calling it a move that could hurt the American healthcare system more than India's economy. Reacting to the U.S. decision to impose a 25 per cent tariff on Indian goods, Dilip Kumar, Chairman of Medical Tourism at the Chamber of Commerce, told that the move aimed at damaging the Indian economy. However, he expressed confidence that it would not succeed. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking Product Management Project Management others Operations Management Leadership Healthcare Finance Data Analytics CXO Technology MBA Cybersecurity PGDM Data Science MCA Data Science healthcare Public Policy Others Management Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details "He is trying to kill the market of the Indian economy, but it is not going to happen," Kumar said. "We are exporters, especially of medical equipment, pharmaceuticals, and disposables, which mostly come from India. The American market is dependent upon Indian and Chinese markets." Live Events You Might Also Like: Indian IT sector not directly hit by US tariffs, yet ripple effects could be substantial: EY India Kumar emphasized that the cost of treatment and medical procedures in the U.S. will increase as a result of this move, directly affecting American citizens. "India won't be impacted, as we will go by the route of exporting to European countries. We can survive in the toughest times and bounce back," he added. Echoing similar concerns, Namit Joshi, Chairman of Pharmexcil, highlighted the critical role India plays in the global pharmaceutical supply chain . He said that India supplies nearly 47 per cent of the U.S.'s pharmaceutical needs, especially in the generic drugs segment. "India has long been a cornerstone of the global supply chain for affordable, high-quality medicines, particularly in the generic drug market, where it supplies nearly 47 per cent of the U.S.'s pharmaceutical needs. Indian pharmaceutical companies play a vital role in ensuring the affordability and availability of essential medications, including life-saving oncology drugs, antibiotics, and chronic disease treatments," Joshi said. He warned that any disruption to this supply chain would lead to shortages and rising prices in the U.S. "The immediate consequences of these tariffs will likely result in increased costs for essential drugs, the long-term impact will be even more severe," he said. Joshi added that the U.S. market , which relies heavily on India for Active Pharmaceutical Ingredients (APIs) and low-cost generics, would struggle to find alternatives. "Efforts to shift pharmaceutical manufacturing and API production to other countries or within the U.S. will take at least 3-5 years to establish meaningful capacity." Industry experts believe the tariff move is a miscalculation that may damage the very healthcare system it aims to protect. However, clarity has to come whether the new 25 per cent tariffs will apply to India's pharmaceutical sector, as in an earlier announcement of April, President Trump had exempted the pharma sector from tariffs. Economic Times WhatsApp channel )
BBC News
18 hours ago
- Business
- BBC News
Tax on vape liquid considered by Guernsey's States
Guernsey's top political committee is considering a tax on vape liquids as part of the 2026 budget. A levy on the substances is set to be introduced in the UK from October 2026. It will be charged at a flat rate of £2.20 per 10ml vaping Chamber of Commerce has asked its members for their views on any proposed tax. In a post on social media, the chamber said "a consultation meeting for retailers" would be held by the States. "The meeting will explore potential rates, the impact on retailers and consumers, and practical," it Policy and Resources Committee (P&R) is set to publish the budget for 2026 on 7 October, for debate on 4 November. It will be the first budget from Deputy Lindsay de Sausmarez's P&R, where former Chief Minister Gavin St Pier is taking the lead on financial matters. Current vapes policy A proposal to introduce wide-ranging controls on vaping products in Guernsey was passed by the States earlier this year. The sale of the products to under-18s has been banned. It followed concerns raised by politicians and officials about the marketing of vapes to children. P&R President Lindsay de Sausmarez said she would look at all outlets to bring more revenue in, but would not stop work on the introduction of a GST. Former Treasury Minister Charles Parkinson has been tasked with looking at the island's corporate tax system, alongside plans for a GST, a lower rate of income tax for earnings under £30,000 and reforms of social security contributions. De Sausmarez has previously said she would like to investigate replacing fuel duty with a system where vehicle mileage was tracked.
BBC News
2 days ago
- Business
- BBC News
Firms worried about minimum wage for trainees
Business leaders in Jersey are worried paying trainees the full minimum wage may reduce the number of training opportunities available, when some grants to offset the rise end next island's government scrapped the reduced trainee minimum wage rate in 2024, meaning all trainees are now paid the full minimum wage of £13 an were able to apply for grants to offset the increase, but with these finishing at the end of 2026 Jersey's Chamber of Commerce said it was "concerned" about the impact on businesses and BBC understands early figures suggest a similar number of people have taken up training places in 2025 as the previous year. A spokesperson for the chamber said "requiring all trainees to be paid the full minimum wage, regardless of experience or productivity" could reduce "meaningful training opportunities".They said the change could have "significant implications", especially for "young people entering the workforce for the first time who represent a vital part of Jersey's future workforce". Before the change the minimum wage for first-year trainees was £7.87 an hour and £9.19 for second-year trainees, compared to a full rate of £10.50 in States voted to get rid of the trainee rate in 2023 following a proposal from Deputy Max are currently able to apply for a £2,000 Better Business Grant to help cover each trainee's wages and up to £1,600 a year to help with course costs from a separate ongoing the £2,000 grants are due to finish at the end of chamber said it had now launched a survey to understand the "real-world impact".
Entrepreneur
4 days ago
- Business
- Entrepreneur
Abu Dhabi Chamber Membership Surpasses 158,000 in H1 2025, Marking 4.9% Growth
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has reported a notable 4.9% year-on-year increase in its membership base, surpassing 158,000 registered companies by the end of the first half of 2025. The growth reflects continued momentum in the emirate's business landscape, driven by both emerging and traditional sectors. According to the Chamber, membership climbed from 157,207 in September 2024 to over 158,000 by June 2025. The sharpest increases were seen in sectors such as agriculture, which recorded a 21% surge in membership, followed by arts and entertainment at 13%, and information and communication technology (ICT) and technical services at nearly 10%. Additional strong performers included water and waste management (9%), property and administrative services (8%), education (7%), transport and storage (6%), and mining and quarrying (5%). Meanwhile, more established industries such as construction, manufacturing, and financial services posted steady growth of around 2–3%. The Chamber attributed the rise in membership to Abu Dhabi's proactive business climate, sectoral diversification, and government initiatives aimed at bolstering private sector participation. "Surpassing 158,000 member companies underscores the growing confidence in Abu Dhabi as a dynamic business hub," said a spokesperson for the ADCCI. "We remain committed to supporting sustainable growth and facilitating opportunities across all sectors." The Chamber's expanding membership base signals robust economic resilience and growing investor interest in the UAE capital, aligning with the government's long-term economic vision.
