The government claims that access to the $572.3 billion EU market for pharmaceuticals and medical devices is made possible by the free trade agreement (FTA) between India and the EU, boosting the country’s pharmaceutical industry.

The Ministry of Chemicals and Fertilizers claims that this will help the pharmaceutical industry grow, create jobs, and strengthen India’s standing as a trustworthy partner in the pharmaceuticals industry, highlighting its rising prominence as the world’s pharmacy.

The ministry also stated that it is anticipated to increase industrial employment, skilled jobs, MSME involvement, and global supply chain integration.

According to JP Nadda, Union Minister for Chemicals and Fertilizers, the FTA creates new opportunities for medical devices and pharmaceuticals.

“Liberalized tariffs for Indian medical devices and access to the $572.3 billion Pharma and MedTech market in the EU will accelerate growth in this high-value sector,” Nadda stated.

“Under PM Narendra Modi’s visionary leadership, India continues to expand its presence as a dependable global partner in manufacturing and healthcare,” the minister continued.

One of India’s most crucial economic alliances has reached a significant milestone with the FTA.

The FTA, which was created as a cutting-edge, rules-based trade alliance, addresses current global issues while facilitating more market integration between the fourth and second largest economies in the world.

Preferential market access will facilitate faster growth in high-value segments; tariffs for important “Made In India” medical devices will be liberalized; growth in organic and inorganic chemicals, fertilizers, pharmaceuticals, cosmetics, soaps, and detergents will be guaranteed; and MSME cluster development and capacity expansion will support sectoral growth.

Additionally, it will create significant chances for expansion throughout hubs in Gujarat, Maharashtra, Karnataka, and Andhra Pradesh. Export-led growth can be scaled by coastal export hubs to support processing-intensive industries and jobs.

According to the ministry, the India-EU Free Trade Agreement strengthens common values, encourages innovation, and lays the groundwork for inclusive, resilient, and future-ready growth for both Europe and India.