New Delhi: The free trade agreement (FTA) between India and the European Union (EU) has granted India access to Europe’s $572.3 billion pharmaceutical and medical devices market. According to the Government, this development is set to significantly strengthen the Indian pharmaceutical industry.
The Ministry of Chemicals and Fertilizers stated that the agreement will help pharmaceutical companies expand their businesses, generate new employment opportunities, and reinforce India’s position as a reliable global partner in medicines. This move will further cement India’s reputation as the “pharmacy of the world.”
The ministry also highlighted that the FTA will boost skilled employment, industrial jobs, and the participation of micro, small, and medium enterprises (MSMEs). It will also enhance India’s integration into the global supply chain.
Union Minister of Chemicals and Fertilizers, J.P. Nadda, said the FTA opens new avenues for the pharmaceutical and medical devices sectors.
J.P. Nadda added, “Access to Europe’s $572.3 billion pharma and medical technology market, combined with lower tariffs on Indian medical devices, will accelerate growth in this important sector.”
He further noted that under Prime Minister Narendra Modi’s leadership, India is continuously expanding its presence as a trusted global partner in healthcare and manufacturing.
This FTA is seen as a milestone in one of India’s most crucial economic partnerships. It is designed as a modern, rules-based trade partnership that addresses current global challenges while deepening market integration between the world’s fourth and second-largest economies.
The agreement will provide Indian companies preferential access to key markets. It will reduce tariffs on ‘Made in India’ medical devices and promote rapid growth in chemicals, fertilizers, pharmaceuticals, cosmetics, soaps, and detergents. Additionally, it will support increased production capacity and the development of MSME clusters.
States such as Gujarat, Maharashtra, Karnataka, and Andhra Pradesh, which host major industrial centres, are expected to benefit from this agreement. Coastal export hubs will encourage export-led growth, creating more jobs and benefiting processing industries.
The ministry emphasised that the India-EU FTA strengthens shared values, fosters innovation, and lays the foundation for inclusive, robust, and future-ready growth for both India and Europe.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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