Free trade agreement talks with EU on hold after ban on Indian Pharma Products.

Economy News

Business Mantra:- Faridabad
Date: – 06/08/2015

After European Union’s decision to ban more than 700 Pharmaceutical Products, Indian government has decided to lodge protest and has put on hold the talks on proposed free trade with European Union.

India’s commerce and industry ministry says that the 700 pharma products clinically tested by GVK Bio-sciences have been banned, while most of these products are already being sold in European market. This step of EU has badly hit Indian pharma sector.

It is to be noted that in later part of August a meeting of India and EU was scheduled for BITA (Broad-Based Investment and Trade Agreement). Now India has put on hold these talks as Govt. of India is disappointed by EU’s behavior.

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