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the recently implemented European Union-India Free Trade Agreement (FTA) is poised to substantially impact India’s medical device industry, altering cost structures and competitive dynamics. While overshadowed by the US-India trade deal, the EU-India FTA represents a crucial step in shaping the future of healthcare access and innovation within India. The agreement’s impact extends beyond simple tariff reductions, focusing on improvements in speed, predictability, and trust throughout the medical device value chain.
Tariff Rationalisation: Incremental but Meaningful
Currently, imported medical devices into India are subject to basic customs duties ranging from 7.5% to 10%, excluding surcharges. The EU-India FTA provides for a partial reduction in these tariffs, resulting in a 5-12% decrease in landed costs. Invest India highlights the potential for this reduction to significantly impact price-sensitive hospital procurement, particularly for high-value capital equipment, implants,
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