New Delhi, May 7 -- India's free trade agreement with the UK is expected to open up a large market for Indian exporters but has left at least one sector flustered. Domestic manufacturers of medical devices fear Chinese-origin products could be routed into India through the UK by exploiting the zero-tariff provisions under the bilateral trade pact.
Apart from creating larger opportunities for Britain's lifesciences sector, the India-UK FTA will mean reduced tariffs for medical devices going through the UK's complex supply chains, which Chinese manufacturers can exploit, said industry experts.
While the UK is not a major medtech manufacturing hub, it could serve as a conduit for third-country goods, particularly Chinese products, seeking ...
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