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Brussels: Allaying fears that India-EU trade pact would make global supplies of medicines expensive, New Delhi today said the agreement will not deter Indian pharma companies from manufacturing and exporting generic drugs.
“Nothing in the agreement would limit TRIPS (Trade Related Intellectual Property Rights) flexibilities concerning access to medicines,” a report on the progress of Broad Based Trade and Investment Agreement (BTIA) released by India’s Commerce Ministry said.
The report was released at the EU-India Summit here.
Several NGOs in India and Europe had expressed fears that the bilateral trade deal about to be wrapped up, after four years of negotiations, can adversely impact supplies of affordable generic drugs from India.
Thanks to off-patent drugs, manufactured and exported by India and Brazil, the cost of life saving medicines including anti-AIDS drugs has come down drastically all over the world.
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