India demands reciprocity in medical devices sector negotiations
India is negotiating a free trade agreement (FTA) with the European Union (EU) focused on the medical devices sector. A recent analysis highlights the need for India to demand reciprocal concessions due to current imbalances in trade regulations. The EU imposes strict regulatory barriers that hinder Indian exports, despite seeking zero tariffs on imports from India. Indian tariffs on medical devices range from zero to 10 percent, but unilateral tariff reductions could lead to increased imports from the EU without addressing these barriers. To improve market access, India should pursue mutual recognition agreements with the EU and other major markets. In 2024, India exported $580 million in medical devices to the EU while importing $1.15 billion, indicating a significant trade deficit.