India should seek reciprocity from EU on medical devices under FTA: GTRI

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India should seek reciprocity from EU on medical devices under FTA: GTRI - Business Standard

Quick Summary:

India should seek reciprocal concessions from the European Union (EU) under the proposed free trade agreement (FTA) in the medical devices sector to promote its exports, economic think tank GTRI said on Sunday.

India charges zero to 10 per cent tariffs on most medical devices and a duty cut by India on medical devices without addressing EUs regulatory challenges will result in low exports but large scale imports from EU.

India should cut tariff on medical devices only if the EU reduces its non-tariff barriers," the Global Trade Research Initiative (GTRI) said.