India’s Free Trade Agreements to Open New Export Opportunities for Pharma, Healthcare and MedTech: Min Piyush Goyal
Commerce Minister Piyush Goyal says India’s expanding network of free trade agreements is creating new global market opportunities for the pharmaceutical, healthcare and medical technology sectors.
- By PharmaNews Live Desk
- New Delhi
- Mar 10, 2026
India’s growing network of Free Trade Agreements (FTAs) is opening new opportunities for the country’s pharmaceutical, healthcare and medical technology sectors, Union Commerce and Industry Minister Piyush Goyal said on March 9.
Speaking at a post-Budget webinar in New Delhi, the minister said the trade agreements are helping expand India’s footprint in global markets while offering domestic industries improved access to international markets through preferential trade terms.
According to Goyal, India has concluded nine FTAs over the past three to three-and-a-half years, including several major agreements in the past year, significantly expanding the country’s trade connectivity.
Preferential access opening new markets
The minister said these agreements provide Indian exporters with preferential market access and lower duties, enabling companies to compete more effectively in global markets.
“Free Trade Agreements are opening new opportunities for pharmaceuticals, healthcare and medtech sectors,” Goyal said while highlighting the expanding role of India’s healthcare industry in global trade.
He added that the agreements have broadened India’s trade engagement with major global economies and are expected to drive exports across several high-value sectors, including medical technology and healthcare services.
Expanding global trade opportunities
Goyal noted that the recent FTAs collectively provide India with access to a significant share of global trade, strengthening the country’s integration into international supply chains.
With the conclusion of these agreements, nearly two-thirds of global trade is now accessible to India, creating significant opportunities for export-oriented sectors.
The minister also emphasised that FTAs benefit a wide range of stakeholders, including farmers, MSMEs, innovators and manufacturers, by expanding global market access and strengthening India’s export ecosystem.
Reinforcing India’s position as “pharmacy of the world”
Highlighting the importance of the pharmaceutical and healthcare sectors, Goyal said the expansion of global trade partnerships would reinforce India’s reputation as a major supplier of affordable medicines and healthcare solutions.
India is already widely recognised as a leading global producer of generic medicines and vaccines, and increased market access through trade agreements could further strengthen the country’s role in global healthcare supply chains.
Industry observers note that improved tariff access and regulatory cooperation under FTAs could help Indian pharmaceutical and medical technology companies expand exports, diversify markets and strengthen their global competitiveness.