India removes customs exemptions to boost local producers

Published: 18-Feb-2016
Finance

Raising prices of imported drugs aimed to encourage domestic manufacture


The Indian government has removed customs duty exemptions on 74 medicines, a Central Board of Excise and Customs (CBEC) notification has said. The goal is to encourage the domestic manufacture of a wide range of medicines that are currently largely imported by raising the price of foreign made drugs.

Among the pharmaceuticals that will henceforth attract duty are those treating cancers such as leukaemia (including chemotherapy and radiotherapy medicines); HIV/AIDS; cardiac problems; hepatitis B; arthritis; diabetes; Parkinson's disease; bone conditions; kidney stones; and blood disorders among other illnesses, and include antibiotics, hormonal medicines and anaesthetics. The customs note said the move was 'necessary in the public interest'.

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