India is looking to increase drug exports to Africa, Latin America, and Southeast Asia to lessen reliance on the U.S. due to tariff concerns. The Pharmaceuticals Export Promotion Council of India aims to boost sales to China to address the trade deficit. The U.S. is India’s biggest market, accounting for a third of pharmaceutical exports.

Even though Indian pharmaceutical exports are currently exempt from President Trump’s tariffs, tensions have made the industry cautious. The trade body plans to submit its strategy to the government next week. India is also focusing on enhancing exports to Russia, the Netherlands, and Brazil.

India faced a $99.2 billion trade deficit with China in the last fiscal year, driven by increased imports. If a portion of the deficit can be covered by exporting to China, it could generate about $6 billion. The industry is looking to collaborate to expand into semi-regulated markets and reduce dependence on the U.S.

Read more at Yahoo Finance: India looking beyond US for pharma exports amid tariff tensions