India–EU Free Trade Agreement Opens Access to $572.3 Bn EU Pharma & MedTech Market

The India–EU FTA unlocks access to the European Union’s $572.3 billion pharmaceuticals and medical devices market, providing a significant boost to India’s pharmaceuticals sector.

India and the European Union have announced the conclusion of negotiations for a Free Trade Agreement (FTA), marking a key milestone in one of India’s most strategic economic partnerships.

The agreement aims to enable deeper market integration between the world’s fourth- and second-largest economies while responding to contemporary global trade challenges.

The India–EU FTA unlocks access to the European Union’s $572.3 billion pharmaceuticals and medical devices market, providing a significant boost to India’s pharmaceuticals sector.

The agreement is expected to support industry scaling, employment generation, and India’s positioning as a reliable global partner in pharmaceuticals and medical devices manufacturing.

According to the government, the FTA will encourage expansion of skilled and industrial employment, strengthen MSME participation, and enhance India’s integration into global supply chains. Preferential market access and liberalised tariffs are expected to accelerate growth in high-value segments, including ‘Made in India’ medical devices.

The agreement also provides growth opportunities across inorganic and organic chemicals, fertilisers, pharmaceuticals, cosmetics, soaps, and detergents. Capacity expansion and MSME cluster development are expected to drive sectoral growth, with major expansion opportunities across hubs in Gujarat, Maharashtra, Karnataka, and Andhra Pradesh.

Coastal export hubs are expected to scale export-led growth, supporting employment and processing-intensive sectors.

Aligned with India’s vision of “Viksit Bharat 2047,” the India–EU FTA reinforces shared values, fosters innovation, and lays the foundation for inclusive, resilient, and future-ready growth for both India and Europe.

Hailing the agreement, Union Minister for Chemicals and Fertilisers J P Nadda said, “India–EU FTA opens new doors for pharmaceuticals and medical devices. Access to the $572.3 billion Pharma and MedTech market in EU. Liberalised tariffs for Indian medical devices will accelerate growth in this high-value sector. Under the visionary leadership of Hon’ble PM Shri @narendramodi ji, India continues to expand its presence as a reliable global partner in healthcare and manufacturing.”

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