New Delhi, Jan 28 || The India-EU Free Trade Agreement (FTA) is a positive step for the Indian medical device sector, said experts on Wednesday.
Prime Minister Narendra Modi and European Commission President Ursula von der Leyen on Tuesday jointly concluded the "mother of all deals", marking a historic milestone in India-EU economic relations and trade engagement with key global partners.
As per the FTA, tariffs on 90 per cent of European optical, medical, and surgical equipment will be removed.
Export Promotion Council for Medical Devices (EPCMD) Chairman RS Kanwar said the India-EU trade deal is very beneficial and can prove to be transformative for the pharmaceutical sector.
“The India-EU Free Trade Agreement is a positive step for the Indian medical device sector. Access to life-saving drugs will be a major advantage for both sides,” he said.