Pharma industry to benefit from India-EU FTA deal. Image for representation. Credit: iStock photo
Mumbai: The India-EU FTA agreement enables stable, long-term, and predictable pharmaceutical trade, benefiting European healthcare systems and consumers through improved affordability, continuity, and security of supply, supported by India’s high-quality and reliable manufacturing base, according to Namit Joshi, Chairman, Pharmaceuticals Export Promotion Council of India (Pharmexcil).
“For the pharmaceutical sector, the FTA delivers structural competitiveness. Near-zero tariff access significantly strengthens the position of Indian formulations, APIs, and value-added medicines in the EU, a development that is particularly consequential for India’s pharma MSMEs, many of whom possess strong quality capabilities but face cost and access barriers in highly regulated markets,” he said.
Reduced tariffs and smoother market entry will directly enhance their ability to scale exports, invest in compliance, and integrate into European supply chains, added Joshi.
“Crucially, this agreement enables stable, long-term, and predictable pharmaceutical trade, benefiting European healthcare systems and consumers through improved affordability, continuity, and security of supply, supported by India’s high-quality and reliable manufacturing base. Equally important is the agreement’s balanced approach to intellectual property, which reaffirms TRIPS-aligned protections while safeguarding India’s strengths in generics and public health, thereby providing regulatory certainty and confidence for MSMEs as well as large manufacturers,” he added.