Access to Indian medicines will be easier in Britain, efforts under FTA will intensify, know what will be the benefits?
Highlights
Under this agreement, Indian products will get regulatory permission within 90 days.
Both the countries are busy in finalizing the agreement keeping in mind the national interests.
Negotiations on the India-UK Free Trade Agreement started in January this year.
New Delhi. India is trying to gain wider market access for its pharmaceutical products under the proposed Free Trade Agreement (FTA) with the UK. An official gave this information on Friday. “The best thing about the proposed agreement is that both the sides have conveyed their sentiments and objectionable points,” the official said. Manufacturing of cheaper versions (generics) of life saving drugs is a point on which there can be no compromise.
India has achieved easy market access for its pharmaceutical companies in the FTA implemented with the United Arab Emirates (UAE). Under this agreement, Indian pharmaceutical products and medical products will get regulatory permission within 90 days. Pharmaceutical products that have been approved for sale in developed markets such as the US, UK, EU, Canada and Australia are also provided with easy access in the UAE.
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talks with the UK continue
Similarly, India’s trade deal with Australia will also have provisions for speedy clearances and assessment of quality testing of manufacturing plants. India is also trying to get easier access for its pharmaceutical companies in the proposed free trade agreement with the UK. “We are eyeing a positive outcome for the pharma sector from the India-UK agreement,” the official said. Discussions are continuing regarding regulatory cooperation with the UK’s Drugs and Health Production Regulatory Agency.
India-UK FTA talks started this year
Negotiations on a free trade agreement between India and Britain began in January this year. It was set to be completed by Diwali, but political uncertainty in Britain has postponed it for some time.
It has 26 chapters including Products, Services, Investments and Intellectual Property. The official said that both the countries are trying to finalize this agreement keeping in mind their national interests.
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Tags: India UK, Pharma Companies, Pharma Industry
FIRST PUBLISHED : November 04, 2022, 16:06 IST
