India, March 9 -- Enhanced tariffs levied on pharmaceutical imports will severely impact Indian pharmaceutical companies as it would lead to higher production costs, making shipments less competitive against products from other countries.

According to experts, the automobile sector, however, is likely to face minimal impact as the US is a small export market.

US President Donald Trump recently said that reciprocal tariffs on countries that impose high tariffs on US products will come into effect on April 2. He had termed India as a high tariff-imposing nation.

India currently levies about 10% import duty on American drugs while no charges are levied on Indian drugs being imported by the US.

Notably, four of ten medical prescriptions i...