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'India's $500 million pharma exports at risk': Traders on new rule

Business

India has restricted the export of medicines labeled "For sale in India only," a rule that's been around since last year but is now hitting exporters hard—costing them about $500 million.
The Federation of Pharmaceutical and Allied Products Merchant Exporters (FPME) says this move could make it tougher for medical tourists and Indians abroad to get affordable medicines.

FPME warns of potential drug shortages, fake drugs influx

FPME is urging the government to drop the rule, warning it could hurt India's global pharma presence and lead to shortages or fake drugs filling the gap.
Government officials say the regulation is needed to follow Indian patent laws and prevent misuse, but FPME has requested the government to reconsider the rule.