According to sources China on Monday said it has clinched a deal with India on the reduction of import duties on Indian medicines including anti-cancer drugs, which are highly expensive in the country. Earlier Beijing, which had announced a cut on import duties on over 8,500 Indian items, said it will relax taxes on more goods from India and other countries as its trade war with the US heats up.
Meanwhile China on Monday said it has clinched a deal with India on the reduction of import duties on Indian medicines including anti-cancer drugs, which are highly expensive in the country. Accordingly Beijing, which earlier announced a cut on import duties on over 8,500 Indian items, said it will relax taxes on more goods from India and other countries as its trade war with the US heats up.
Moreover as discussed between Indian Prime Minister
Narendra Modi and Chinese President Xi Jinping at the Wuhan summit in April,
China has granted more access to Indian pharmaceutical companies. Chinese
Foreign Ministry spokesperson Hua Chunying said"There is a popular movie
'Dying to Survive' about zero tariff imposition on anti-cancer medicines in
China”. Moreover she was responding to a question about India's decision to cut
levies on 3,142 items from the member countries of Asia Pacific Trade Agreement
and so the slashing of tariffs by the Indian side is also part of this
negotiation”.
