New Delhi — China is preparing to give swift regulatory approvals to India-manufactured drugs, the head of an Indian export promotion group said, as Beijing looks for new commercial partners ahead of what could be a protracted trade war with the US. Indian firms are looking to fill gaps in Chinese demand for generic drugs, software, sugar and some varieties of rice, trade officials in New Delhi said. "We do feel that China is receptive at this time and it’s all about making prices competitive," said a government official involved in the effort to promote trade with China. The official declined to be identified since he is not authorised to speak to the media. No concrete deals have been signed but the outlook for pharmaceutical sales from India is positive, according to officials from both nations. India dominates the world’s generic drugs market, exporting $17.3bn worth of drugs in the 2017-18 (April-March) year, including to the US and the EU. But only 1% of that went to China, th...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.