Categories: Business

india lifts export ban on HCQ

Photo: GOOGLE

India lifts export ban

new Delhi. The government on Thursday lifted a ban on export of hydroxychloroquine, a drug used to treat malaria, with immediate effect on Thursday. On 25 March, the government had completely banned the export of this drug in the wake of the outbreak of Kovid-19 epidemic. This drug is also considered effective in treating patients infected with the corona virus epidemic. The Directorate General of Foreign Trade (DFFT) said in a notification, "The export policy of hydroxychloroquine API (active pharmaceutical ingredients) and its formulations is exempted from the prohibition with immediate effect."

The Indian Council of Medical Research (ICMR) had also recommended the use of hydroxychloroquine to treat health workers caring for cases of corona virus infection. Apart from this, the use of this medicine was also recommended for those who came in contact with infected people. US President Donald Trump described the hydroxychloroquine as a "dice-turner" in the fight against Kovid-19. Although the export of this drug was banned, India had supplied this medicine to many countries with its global commitment to combat the corona virus epidemic. India supplied paracetamol and hydroxychloroquine to more than 120 countries in the last two months, ensuring domestic supply. Paracetamol is a pain reliever, while hydroxychloroquine is a chronic and inexpensive drug used in the treatment of malaria. India is the largest producer and exporter of this drug globally. India alone produces 70 percent of the entire world's supply of hydroxychloroquine. India exported hydroxychloroquine APIs worth $ 1.22 billion during April 2019 to January 2020. Other formulations made of hydroxychloroquine during the same period exported $ 5.50 billion.

This post was published on June 19, 2020 12:04 am

Content Team

Recent Posts

Ban on gaming apps hopes for opportunity for domestic sector

Photo: MEDIATEK online gaming new Delhi. The government has banned 118 apps keeping in mind the security of the country.…

India august gold imports double to hit 8 months peak says source

Photo: TIMESOFINDIA gold import at 8 months high new Delhi. The economy is now looking forward to a gradual recovery.…

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE Coal India Q1 result new Delhi. Coal India's profit fell 55 per cent in the first quarter to…