India–United States pact lowers tariffs, strengthens economic ties

The global markets are in big trouble, and the reason for this is the geopolitical tensions. However, India is emerging as a major player in the global trade scenario. The huge trade deal with Europe, which can be called the "Mother of All Trade Deals," provides more free trade opportunities. The historic trade deal between the US and India has eased some of the trade barriers. Despite the US Supreme Court ruling some of the tariffs as illegal on the 20th of February, the era of free trade is shifting. There are many countries seeking reliable trade partners like India.

India and China form the backbone of the Western nutraceutical market, as over 80% of raw materials are supplied from Asia. Herbs, spices, and plant extracts are essential components of these supplements. Recent supply chain disruptions have significantly impacted the market. To avoid trade restrictions and heavy taxes, many Asian suppliers are expanding into countries like Vietnam and Sri Lanka.

India's health supplement market is home to several major players. In 2024, global giant Nestlé and India's Dr. Reddy's Labs will join forces to bring Nestlé's major brands to homes through Dr. Reddy's' strong infrastructure and network. Companies like Reckitt have been a leading supplier of children's and infant nutrition products for over 90 years. Names like Himalaya Wellness, Abbott India, and Sun Pharma are major players both domestically and internationally.