India’s expanding network of free trade agreements (FTAs) is creating new growth avenues for the country’s pharmaceutical, healthcare and medical technology sectors, underlining how trade partnerships are strengthening its global economic footprint.
Union commerce and industry minister Piyush Goyal said India has signed nine FTAs in the past three to three-and-a-half years, including five in the last 12 months alone. These agreements have opened up preferential trade access to nearly two-thirds of global markets, giving Indian exporters lower tariff barriers and improved opportunities compared with competitors from many other countries.
The minister said this expanding trade network is boosting India’s global presence in pharmaceuticals and healthcare, reinforcing the country’s widely recognised status as the “Pharmacy of the World.”
According to him, FTAs are not limited to benefiting large industries alone. Farmers, fishermen, MSMEs, small manufacturers and traders are also gaining from the wider global access created through these agreements.
Building a Global Healthcare Ecosystem
Goyal emphasised that the real benefits of FTAs will be realised only if businesses actively utilise them. While the government can open trade pathways, he said, industry participation and export-driven growth are essential to fully leverage these opportunities.
He called for the development of a comprehensive healthcare ecosystem that integrates manufacturing, innovation, startups, hospitals and medical technology companies. Such collaboration would enable India to strengthen exports and scale up global competitiveness in healthcare solutions.
MSMEs, he said, will play a crucial role in this ecosystem, particularly through quality upgradation, improved testing infrastructure and higher global standards, which would further enhance the credibility of “Brand India” in international markets.
Expanding Trade Partnerships Worldwide
The minister also highlighted India’s growing trade engagement with major global economies. The country already has trade agreements or ongoing negotiations with the United States, European Union, United Kingdom, Australia and New Zealand, as well as the European Free Trade Association (EFTA) nations, Switzerland, Norway, Liechtenstein and Iceland.
In the Gulf region, India has concluded agreements with the United Arab Emirates and Oman, while all six members of the Gulf Cooperation Council have shown interest in similar trade arrangements with India. Discussions are also progressing with Canada, Mercosur countries in Latin America and the Eurasian Economic Union, reflecting the growing global interest in deeper economic ties with India.
Healthcare, Skills and Exports
Goyal said linking the healthcare sector with exports and skill development will be a key focus area going forward. He highlighted the growing international demand for skilled professionals such as nurses and caregivers, suggesting that India can expand training programmes to create a globally deployable workforce. Such initiatives could increase service exports, boost remittances and enhance the global reach of Indian healthcare expertise.