Latest news with #UK-IndiaFreeTradeAgreement
ITV News
5 days ago
- Business
- ITV News
UK-India trade deal sparks fears over access to cheap medicines for millions
A newly signed trade agreement between India and the UK has triggered concerns that millions of poor Indians may lose access to affordable life-saving medicines. Civil society groups and health experts say the UK-India Free Trade Agreement (FTA), finalised between two countries, tilts the balance in favour of multinational pharmaceutical corporations and threatens to erode long-standing protections that have allowed India to produce low-cost generic drugs. 'This is not just about trade. It's about whether a person living on ₹200 (£2) a day can afford cancer treatment or survive tuberculosis,' said Jyotsna Singh, co-convenor of the Working Group on Access to Medicines and Treatments. At the heart of the controversy are the agreement's intellectual property (IP) provisions, which activists say may restrict the Indian government's ability to issue compulsory licences—legal tools that allow domestic companies to manufacture patented drugs at reduced prices during public health emergencies. India used this provision in 2012 to dramatically cut the price of sorafenib, a cancer drug sold by Bayer under the brand Nexavar. Generic versions slashed the monthly cost by nearly 97%, from ₹2.8 lakh (£2,600) to around ₹8,800 (£80), making it affordable to thousands. 'By discouraging compulsory licensing and promoting voluntary licences, the deal hands over control of access to medicines to the market,' said Prof Biswajit Dhar, a trade expert and former professor at New Delhi's Jawaharlal Nehru University. 'Voluntary licences often come with strings attached and don't bring the same price reductions.' Weakening India's Patent Safeguards Under the FTA, companies will no longer need to report annually how their patents are being 'worked'—or used—in India. Instead, disclosures can be made every three years, and some information can be kept confidential. Activists say this undermines transparency and makes it harder to prove that a drug isn't available to the public, a key step in applying for a compulsory licence. There are also concerns the deal could open the door to 'evergreening'—a tactic in which companies make minor changes to existing drugs and claim new patents. Indian law currently limits this practice under Section 3(d) of the Patents Act, but experts warn the FTA's emphasis on 'harmonisation' of IP standards with Western countries could override such protections. 'This is effectively a backdoor entry for TRIPS-plus provisions,' said K.M. Gopakumar, co-convenor of the Working Group. 'It would push India to grant unnecessary patents, prolonging monopolies and delaying cheaper alternatives.' The Indian pharmaceutical industry supplies more than 60% of global vaccines and a significant share of affordable generics to low- and middle-income countries. Critics say the FTA may limit this capacity and ultimately have consequences well beyond India's borders. Government response The Indian government has promoted the FTA as a landmark deal that will boost exports and attract UK investment in manufacturing, services, and digital trade. Officials insist that India has preserved its ability to protect public health. But rights groups remain unconvinced. 'You cannot negotiate away access to life-saving drugs in the name of free trade,' said Gargeya Telakapalli, a public health campaigner based in Hyderabad. 'The poorest Indians—those with cancer, HIV, diabetes, or TB—are being quietly sacrificed.' Broader implications The deal follows a similar agreement India signed last year with the European Free Trade Association (EFTA), which also faced criticism for diluting IP safeguards. Observers say the trend may reflect a shift in India's trade policy as it seeks closer ties with Western economies. But for many in India's healthcare and legal communities, the question remains: how much access to medicine is the country willing to give up for a better trade balance? From Westminster to Washington DC - our political experts are across all the latest key talking points. Listen to the latest episode below...
Time of India
6 days ago
- Business
- Time of India
Experts flag UK-India FTA over patent terms, access to drugs
Mumbai: Experts in intellectual property law and civil society groups in India have raised concerns that provisions in the UK-India Free Trade Agreement , Comprehensive Economic and Trade Agreement (CETA), may dilute compulsory licensing norms and jeopardise future access to affordable lifesaving medicines. As part of the Indian Patent Act, the country has the rights to invoke compulsory license for any lifesaving medicines or vaccines and call upon domestic generic players to supply it during a national emergency in the public interest. Explore courses from Top Institutes in Please select course: Select a Course Category others Digital Marketing Data Science Project Management Others CXO Healthcare Operations Management healthcare PGDM MCA Artificial Intelligence Degree Product Management Finance Data Analytics Leadership Cybersecurity Public Policy Data Science Management Technology Design Thinking MBA Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details KM Gopakumar, co-convenor of Working Group on Access to Medicines and Treatment, said the deal amounts to giving a backdoor entry to TRIPS (Trade Related Intellectual Property Rights) plus provisions and goes beyond the minimum standards set by the World Trade Organization, which India has so far resisted in multilateral trade forums. The group said the UK-India FTA provisions on patents tilt the balance in favour of the patent owner and undermines access to medicines. The UK-India FTA says, "The parties recognise the preferable and optimal route to promote and ensure access to medicines is through voluntary mechanisms, such as voluntary licensing , which may include technology transfer on mutually agreed terms." Biswajit Dhar, retired professor of economics at Jawaharlal Nehru University, noted that India was moving away from its sovereign rights by placing emphasis on voluntary license (VLs). "It will kill the essence of the compulsory licensing mechanism and even within the legal framework, India has issued only one CL to Natco Pharma (for Bayer's kidney cancer drug sorafenib)," he noted. He said VLs come with restrictions of pricing that are determined by the innovator Big Pharma companies. "Often voluntary license contains onerous conditions on the licensee and fails to bring sharp price reduction compared to the compulsory licenses," Dhar added. Gopakumar said that India places a higher threshold for examination and grant of patents, but if the FTA deal is any indication, it may result in "functional harmonization" and lead to dilution in the grant of patent. However, a few other patent experts told ET that the FTA seeks to keep a balance between India's current IP regime with public health and the UK's preference of protecting various IP rights. The FTA seeks to create a Working Group on IPR. On patents, India's important safeguards such as Section 3(d) (which blocks evergreening of patents) of the Indian Patent Act, and oppositions have not been disregarded and it should help in India's status as the world's generic drug manufacturer and protect access to medicines for domestic patients.
.jpeg%3Fwidth%3D1200%26auto%3Dwebp%26quality%3D75%26trim%3D221%2C0%2C2219%2C0%26crop%3D&w=3840&q=100)
Scotsman
6 days ago
- Business
- Scotsman
How premium logistics can power Scotland's exports
Mark Rosenberg | Supplied Ask a Scot to name their finest food and drink export and you're likely to spark a fierce debate, says Mark Rosenberg, Chief Commercial Officer, Ports & Terminals, at DP World Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Whatever their preference, everyone can agree that the sector is a phenomenal global success story. The numbers speak for themselves. Last year, Scotland's food and drink exports were valued at £7.1 billion. That's up from £4.9bn in 2014, an increase of roughly 46 per cent over the past decade. This is driven by a strong appetite for its premium produce, such as Scottish salmon which had shipments topping £844 million in 2024. More than a key contributor to the UK economy, Scotland's food and drink industry has become a global benchmark for excellence. However, despite extraordinary market growth, exporters are not immune from trade challenges. Post-Brexit border friction, fluctuating global tariffs and shifting consumer expectations have all made the operating environment increasingly volatile in recent years. The good news is that new trade opportunities are opening routes to growth at a critical moment. Most notably, the UK-India Free Trade Agreement, which was signed yesterday (24 July). By cutting levies on 90 per cent of the produce from Scottish exporters - and those elsewhere in the UK - the landmark deal will transform the presence of the UK's exports in India. This is especially promising for food products like Scottish salmon, which have faced prohibitive 33 per cent tariffs. Once they are lifted, exporters will have access to the world's third-largest fish market and a middle class that is expected to grow to a quarter of a billion by 2050. Understandably, many are preparing for significant long-term expansion into the market. Logistics to power exports | Supplied Premium produce requires premium logistics While the potential for growth in both nearby and distant markets is clear, capturing these opportunities depends on the essential but less glamourous matter of logistics. Ageing infrastructure can increase costs and add complexity. Scotland has felt these constraints acutely. However, the challenges also present opportunities for strategic partnerships that can deliver far greater efficiencies across the supply chain. At DP World, we're not shy of the challenge and have invested to ensure UK exporters can seize the trade opportunities of the day. Our deep sea container ports connect exporters across the whole of the UK with overseas markets. In 2013, we opened London Gateway - the UK's first deep-water container port for more than 20 years - and have committed to its growth ever since. Just a few months ago we began work on a £1 billion expansion of its port facilities and rail infrastructure and announced a further £60 million investment in the Port of Southampton. Both will boost handling capacity and improve direct rail services, offering Scottish exporters fast, low-carbon routes to global shipping networks. As exporters hurry to capitalise on the new opportunities, undoubtedly there will be many pitfalls to navigate, whether that's complex regulatory challenges, untested consumer appetites and cultural nuance. That's where the right logistics infrastructure becomes a critical enabler. Labelling and packaging requirements, for example, vary by market and can create bottlenecks if not handled with care - something DP World supports through advanced, market-specific compliance services. Untested consumer appetites also mean shipments need to be agile, fresh and first-class. In this case facilities like The Chill Hub, our temperature-controlled warehouse at London Gateway, are indispensable for high-value perishable goods like Scottish salmon. Alongside connectivity and adaptability, exporters need flexibility. With rail or barge connectivity at 95 per cent of our 20 European sites, Scottish producers have the necessary options to move goods effectively and on schedule should congestion occur. This is an area we continue to invest in, helping to build the resilience that traders will need for the decades ahead. Scotland's food and drink exporters have a long and proud history, but with new trade agreements opening doors to major, high-growth markets like India, this feels like the start of an exciting new chapter. By strengthening the logistics networks and alliances that move goods from A to B, we can help the blue-and-white 'Made in Scotland' label find new admirers around the world. That's an opportunity we can all raise a glass to.
NDTV
7 days ago
- Business
- NDTV
PM Modi Concludes UK Visit After Meeting With King Charles
London: Prime Minister Narendra Modi on Thursday concluded his two-day visit to the UK during which the two countries inked a landmark free trade pact. PM Modi was hosted by his UK counterpart, Keir Starmer, at Chequers – the official country residence of the British Prime Minister – for an intense session of talks that also covered regional and global issues of mutual interest. "Concluding a very important UK visit. The outcomes of this visit will benefit our future generations and contribute to shared growth and prosperity. Gratitude to the PM Keir Starmer, the UK government and people for their warmth," PM Modi said in social media post. He leaves for the Maldives for the second leg of his two-nation tour, soon after an audience with King Charles III at his Sandringham Estate in Norfolk, eastern England. He presented the British monarch with a Sonoma dove tree, or handkerchief tree to be planted at the royal estate in the Autumn as part of his environmental initiative "Ek Ped Maa Ke Naam". "The leaders celebrated the landmark UK-India Free Trade Agreement, which was signed today and will see growth in every part of the country – delivering on the government's Plan for Change," 10 Downing Street said in a readout of the prime ministerial engagement at Chequers. "The leaders also discussed the importance of the UK-India Comprehensive Strategic Partnership, which will see closer collaboration on trade, defence, security, technology and education – underscored by the close and historic relationship between the two countries," it said. "The leaders also discussed the Air India plane crash last month, and said their sympathies are with all the families and loved ones of the victims. The Prime Minister said the UK will continue to support all those affected by the tragedy," it added. PM Modi has extended an invitation to Starmer to visit India, which the Ministry of External Affairs (MEA) said has been accepted and officials will now be working out the details. Downing Street noted that both leaders "looked forward to seeing one another soon".
&w=3840&q=100)
Business Standard
7 days ago
- Business
- Business Standard
UK-India FTA to boost medical device trade amid country of origin concerns
Bilateral trade in pharmaceuticals and medical devices is set to receive a boost post the UK-India Free Trade Agreement (FTA), according to industry veterans. India's imports of medical devices from the UK grew by 36 percent to Rs 2,295 crore in FY24, while exports to the UK increased by 13 percent to Rs 1,015 crore. Rajiv Nath, Chairman and MD of Hindustan Syringes and Medical Devices (HMD)—one of the top three disposable syringe makers in the world—and the forum coordinator of the medical devices industry body Association of Indian Medical Device Industry (AiMeD), believes that bilateral trade will rise on both sides post the FTA. "Our top exports to the UK were contact lenses, diagnostic reagents, surgical instruments, and PPE kits, while our major imports were oxygen therapy equipment like ventilators, X-ray equipment, diagnostic testing reagents, and IVD analysis instruments. Mostly, small and mid-sized manufacturers export through distributors in niche markets," Nath said. 'Previously, medical devices imported into the UK were duty-free, so tariff restrictions were not an issue, but regulatory approval costs and time were a challenge. We sought recognition of Indian CDSCO regulatory approval or QCI's voluntary Indian certification for medical devices to fast-track regulatory approval by the UK MHRA and address non-tariff barriers faced by Indian exporters, and we look forward to an update on this,' Nath added. Regarding imports into India, AiMeD has emphasized the need for strict monitoring and verification of Rules of Origin to prevent misuse of the FTA through the potential routing of third-country products as purportedly UK-made goods. 'We welcome UK-made medical products into India via this FTA,' he added. Import duties levied by India were mostly at 7.5 percent, which, post-FTA, are expected to come down in a phased manner. The industry is, however, awaiting the fine print. As part of this agreement, import duties on MedTech products will be reduced from approximately 15 percent to around 3 percent, significantly lowering costs and improving access to advanced medical technologies, said Pavan Choudary, Chairman of the Medical Technology Association of India (MTaI). For pharmaceutical exports, the UK is already an important and growing market. Companies like Torrent Pharmaceuticals, Dr Reddy's Laboratories, and Aurobindo have a presence in the UK. 'With India's pharmaceutical exports to the UK reaching $914 million in FY24, the agreement strengthens supply chains, enhances access to affordable medicines, and drives Foreign Direct Investment (FDI). This partnership paves the way for collaborations in bulk drug imports, CDMO, and joint research, empowering India's competitive edge and promoting global partnerships,' said Namit Joshi, Chairman of the Pharmaceutical Exports Promotion Council. Sudarshan Jain, Secretary General of the Indian Pharmaceutical Alliance, noted that the pharma sector will have opportunities to supply affordable and quality-assured medicine, contributing to better patient care in the UK. 'We are awaiting further details to identify specific areas where these opportunities can be effectively leveraged,' Jain said.
