Lifting Ban on Pharmaceutical Companies brings hope to Economy

India lifted the curbs on exports of 13 active pharmaceutical ingredients and their formulations. These included common medicines like paracetamol, vitamins, some anti-virals, hormones, and common antibiotics like tinidazole, metronidazole, etc.

Now the export of these items requires the government’s approval and which will take at least 30-45 days to get the clearance.

India is also relaxing the restrictions on the export of Hydroxychloroquine. After the drug came into knowledge for its curative properties in treating COVID-19 cases, its demand is quite high. India is known as the “pharmacy to the world” and supplies medicines to many countries.

India has partially lifted the ban on this Malaria drug after the US President Donald Trump asked it for. India decided that the Exports of hydroxychloroquine and paracetamol shall be allowed depending on the availability of stock after meeting domestic requirements and existing orders.

India’s decision to lift the ban is driven both by its bilateral trade relationship with the U.S. and the personal rapport between Trump and Modi. This will not only improve their ties but also brings back a slight ray of hope to the slowing economy. Since the export will increase now, there will be a transfer of money.

India has always stood up on humanitarian grounds and gone extra miles to cover its neighbors. This is one such step. As India follows the philosophy of “Vasudhaiva kutumbakam” and leaves no stone unturned when it comes to dealing with such a situation.