PHARMA, MEDTECH TRADE TO GAIN FROM UK FREE TRADE PACT

India-UK free-trade agreement is expected to open up new opportunities for Indian pharmaceutical and medical device makers, while opening the domestic market to UK-made medical devices.

- Jessica Jani

Medical device makers, however, await clarity on non-tariff measures and on whether regulatory processes will be streamlined.

“Previously, medical devices imported into UK were duty-free, so tariff restrictions were not an issue but regulatory approval costs and time were a challenge,” said Rajiv Nath, forum coordinator of industry body Association of Indian Medical Device Industry (Aimed).