India’s Pharma Relief Manufacturing Growth

One side is producing medicines for global markets. The other is creating millions of manufacturing jobs. The US has exempted certain speciality medicines and their ingredients from its new 100% pharmaceutical tariff for India and 19 other eligible jurisdictions. The exemption covers defined categories such as rare-disease medicines, infertility treatments, cell & gene therapies and certain specialised products. This is not a blanket exemption for all Indian medicines. The treatment depends on the specific product and tariff classification. Generic medicines are separately outside this pharmaceutical tariff framework. India’s registered manufacturing sector added more than 14 lakh workers in FY25, taking employment to around 2.10 crore. Industrial output grew 7.81%, while fixed capital increased 10.54%, according to the Annual Survey of Industries. Mankind Pharma

its presence in the pharmaceutical sector makes it a useful company to study when understanding how US pharma-policy changes can interact with Indian pharma businesses. The lesson is bigger than one company: tariffs can change the economics of exports, while manufacturing investment can influence employment and industrial growth. Trade policy affects pharma economics, while manufacturing investment drives jobs, output and capital formation across India’s registered industrial sector.