China agrees to cut tariffs on Indian cancer drugs: Foreign Ministry
Hindustan Times By PTI Jul 09, 2018 India has been demanding opening of China’s IT and pharmaceutical sectors as part of measures to reduce over $51 billion trade deficit in over $84 billion bilateral trade. India and China have reached an agreement on reduction of tariffs on the import of Indian medicines, particularly cancer drugs, to China, the Foreign Ministry said here on Monday, days after a Chinese movie on a leukaemia patient highlighted the need for paving the way for import of cheap Indian medicines. However, it is not yet clear whether China has agreed to grant licences to Indian companies to sell cancer drug in the huge market here, which could be a major step. About 4.3 million people are diagnosed with cancer annually in China, according to a report of the state-run China Central Television. Indian drugs, specially cancer curing medicines, are in big demand in China as they are far cheaper than their western counterparts. “We have seen China and In