China is preparing to give swift regulatory approvals to India-manufactured drugs as Beijing looks for new commercial partners ahead of what could be a protracted trade war with the United States. Indian firms are looking to fill gaps in Chinese demand for generic drugs, software, sugar and some varieties of rice. India dominates the world’s generic drugs market, exporting $17.3 billion worth of drugs in the 2017/18 (April-March) year, including to the United States and the EU. But only one percent of that went to China, the world’s second-largest market for pharmaceuticals. Swift regulatory approvals in China, the world’s second-largest drug market, would allow Indian companies to boost revenue at a time when pricing scrutiny and regulatory troubles have hurt US sales.

(Live Mint)