India-UK FTA boosts pharma exports

The India-UK Comprehensive Economic and Trade Agreement (CETA), which came into effect on July 15, 2026, eliminates tariffs on nearly all products, significantly boosting India's pharmaceutical exports to the UK. According to the India — Pharmaceuticals Export Promotion Council of India (Pharmexcil), exports are projected to grow 8.66% to $981.16 million in FY2026-27, up from $902.96 million in FY2025-26. The agreement enhances competitiveness of Indian generic medicines, secures supply chains, improves access to affordable medicines, and encourages foreign direct investment and collaboration in manufacturing, research, and innovation. India maintains a strong trade surplus with the UK, which widened to approximately $767.49 million in FY2025-26. Drug formulations and biologicals account for 89.54% of exports, while active pharmaceutical ingredients (APIs) and bulk drugs contributed $72.66 million last fiscal year. Pharmexcil leaders Namit Joshi and Aum Bhavin Mehta highlighted the FTA as a landmark development that will reinforce India's position as the pharmacy of the world.