India, China clinch deal to reduce tariffs on Indian medicines, anti-cancer drugs

China 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. 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.  4.3 million people are diagnosed with cancer annually in China, according to a report of the state-run China Central Television. Indian drugs, especially cancer-curing medicines, are in big demand in China as they are far cheaper than their western counterparts.

  • India, China clinch deal to reduce tariffs on Indian medicines, anti-cancer drugs.
  • Beijing, which earlier announced a cut on import duties on over 8,500 Indian items
  • 4.3 million people are diagnosed with cancer annually in China.
  • Indian drugs, especially cancer-curing medicines, are in big demand in China as they are far cheaper than their western counterparts.download our android app