Executive Director of the Indian Drug Manufacturers’ Association, Ashok K Madan, today welcomed the government’s decision to grant customs duty exemption on a wide range of critical petrochemical products, stating that the move will provide significant relief to the pharmaceutical sector. Talking exclusively to Akashvani News, Mr Madan said the decision will help the industry manage rising input costs and ensure stability in production. He added that the move will provide a cushion to the pharmaceutical industry by easing the burden of increased raw material prices.

Further, highlighting the broader impact, he said the decision will not only support the industry in tackling surging input costs but will also benefit consumers by preventing sharp price increases in essential medicines and personal care products.