<ul><li>India imports pharmaceutical drugs worth $800 million, of which 10% tariff is been charged on nearly $400 million of imports.</li><li>Pharmaceutical imports into the US are currently exempted from reciprocal tariffs.</li><li>The administration is studying various protective measures imposed by countries on drugs manufactured in the US, which may lead to an imposition of sectoral tariff under Section 232 of the US Trade Act.</li><li>India's total pharma exports to the US stood at $12.8 billion in CY24 and currently do not see any tariffs.</li></ul>

No Reciprocal Tariff A Positive For Pharma Players; Sectoral Tariff Overhang Prevails, Says ICICI Securities

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