India’s Pharma Is Tariff-Proof, Not China-Proof: The Hidden Upstream Risk to Western Health Systems
The source argues that India’s generics-driven pharmaceutical exports are largely insulated from April 2026 U.S. tariffs on branded medicines, but remain highly dependent on Chinese APIs and key starting materials. This creates transitive exposure for the U.S., U.K., and other markets that rely on Indian formulations, making upstream diversification and co-investment a strategic priority.