ENA Global 2018-05-04 09:08:37 <p><strong>New Delhi, May 4 (KNN)</strong> In a move which would boost Indian pharmaceutical industry and medicine exporters, China has removed import duties on as many as 28 medicines, including all cancer drugs, from May 1.</p> <p>Chinese Ambassador to India Luo Zhaohui, in a tweet, said, China has exempted import tariffs (duties) for 28 drugs, including all cancer drugs, from May 1st. Good news for Indias pharmaceutical industry and medicine export to China. I believe this will help reduce trade imbalance between China and India in the future.</p> <p>The move will help in giving Indian exporters a greater market in China. The trade deficit with China, which has always been a cause of worry, stood at USD 36.73 billion during April-October 2017-18. It was USD 51 billion in 2016-17.</p> <p>Zhaohui also said that China would further improve business environment by halving time required to open a business.</p> <p>Chinas door to the outside world will open wider. Indian businesses are welcome, he added.</p> <p>India too has sought investments from China. The neighbouring country has agreed to set up Industry Park in India to increase investments and bridge trade deficit.</p> 19753 http://knnindia.co.in/news/newsdetails/global/china-exempts-import-duties-for-28-drugs-from-may-1-indian-exporters-to-benefit 2018-05-04 09:08:37 knnindia.co.in