Summary:

The India-UK Free Trade Agreement includes a Mutual Recognition Agreement (MRA) to facilitate exports of Indian medical devices. Products certified by CDSCO or ICMED now have simpler access to the UK market, with 0% tariffs, down from 2-6%. This provides Indian manufacturers a competitive advantage over non-FTA nations such as China and Brazil. The move boosts India's aspirations to extend its participation in the UK's medical equipment industry, which is estimated to rise to US $69 billion by 2035.

The agreement encourages future regulatory collaboration between India's CDSCO and the United Kingdom's MHRA through collaborative inspections, standardised paperwork, data exchange, and mutual training. This will increase confidence and authenticity of Indian certificates in the UK. To avoid the abuse of tariff advantages, strict Rules of Origin (RoO), a digital certificate of origin system, and customs surveillance have been implemented. The framework promotes global market access while safeguarding India's domestic manufacturing interests and ensuring that only qualifying items obtain tariff discounts.

Source: IBEF

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