India partially lifted a ban on the exports of a malaria drug after US President Donald Trump sought supplies for the U.S., according to government officials with knowledge of the matter. Exports of malaria drug hydroxychloroquine and paracetamol will be allowed depending on availability of stock after meeting domestic requirements and existing orders said the government officials, who asked not to be identified citing rules. Shipments will be restricted and permission will be on humanitarian ground, they added.
Donald Trump said at the White House that he was unaware Indian Prime Minister Narendra Modi had banned the export of a drug that he believes is effective against coronavirus, and he also asked Modi for a supply of the medicine. If New Delhi declined to ship the medicine, there may be retaliation, the Trump said.
Department of Pharmaceuticals of India and Ministry of External Affairs has decided on overseas allocations of durg, an official said. On 25 March, the Directorate General of Foreign Trade had restricted the exports of hydroxychloroquine.
Read EquityPandit’s Nifty Outlook for the Week