Government of India has taken a decision to defer the proposed talks between the Chief negotiators on India –EU Broadbased Investment and Trade Agreement (EU-BTIA) for the present. This decision has been taken as “The Government of India is disappointed and concerned by the action of EU in imposing legally binding ban on the sale of around 700 pharma products clinically tested by GVK Biosciences, Hyderabad’. The Government has engaged on the issue with various EU regulators over past 8 months.

 Pharmaceutical industry is one of the flagship sectors of India which has developed its reputation through strong research and safety protocols over the years and therefore, Government of India will examine all options in this regard. It is pertinent to mention that most of these drugs are already in EU market for many years without any adverse pharmaco-vigilance report from any member state.

Legally binding ban on pharma products stalls India-EU investment talks, government to review options and engage regulators. The Government of India has deferred chief-negotiator talks on the India-EU investment and trade agreement after the EU imposed a legally binding ban on sale of pharmaceutical products clinically tested by an Indian contract research organisation; the Government has engaged EU regulators for eight months, characterises the pharmaceutical sector as a flagship industry with established safety protocols, notes the affected drugs have long been marketed in the EU without adverse pharmacovigilance reports, and will examine all available options.