New Delhi, March 9 The nine free trade agreements (FTAs) finalized by India over the past four years will provide significant business opportunities for the domestic pharmaceutical and healthcare sectors, Commerce and Industry Minister Piyush Goyal said on Monday.
India has finalized FTAs with the UK, Mauritius, Australia, the US, the European Union, the four-nation EFTA bloc, Oman, the UAE, and New Zealand.
While the agreements with Mauritius, Australia, the UAE, and EFTA are in effect, the remaining are likely to come into force soon.
"These agreements open up new opportunities for the pharmaceutical, healthcare, and medtech sectors," Goyal said in a post-Budget webinar.
He suggested that the industry focus on taking full advantage of these agreements and developing a strong healthcare ecosystem.
"We need to develop a comprehensive, holistic, and integrated healthcare system," he said.
The minister informed that negotiations with the Gulf Cooperation Council and Eurasia are progressing well.