Mumbai: Uncertainty over US tariffs and global macroeconomic headwinds have slowed down the hiring momentum at pharmaceutical and healthcare global capability centres (GCCs) in India, which has been emerging as a global innovation hub for multinationals, playing a pivotal role in advancing clinical research and drug discovery.
The flip-flops on tariffs by the Donald Trump administration, which has suspended the imposition of reciprocal tariffs across sectors by 90 days for now, may lead to a 6-7% hit on net talent addition in this financial year, according to experts, who attributed the decline to companies adopting a wait-and-see policy until more clarity emerges.
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