New Delhi: The nine free trade agreements (FTAs) finalised by India in the last four years will provide huge business opportunities for the domestic pharma and healthcare sectors, Commerce and Industry Minister Piyush Goyal said on Monday.
India has finalised FTAs with the UK, Mauritius, Australia, the US, European Union, four-nation bloc EFTA, Oman, the UAE and New Zealand.
While the pacts with Mauritius, Australia, the UAE and EFTA are implemented, the remaining are likely to come into force soon.
“These agreements open new opportunities for pharmaceuticals, healthcare and medtech sectors,” Goyal said in a post-Budget webinar.
He suggested the industry to focus on taking greater advantage of these pacts and developing a strong healthcare ecosystem.
“We need to develop a comprehensive, holistic and integrated healthcare system,” he said.
The minister informed that FTA negotiations with the Gulf Cooperation Council and Eurasia are progressing well.