“We hope that, following this agreement, the British government will undertake to protect the rights of farmers in all future trade agreements, because the seed systems of farmers are vital for small farmers in India and in many other countries around the world,” said Hannah Conway, consultant in terms of commercial and agricultural policy at Transform Trade.
Drug manufacturers
Under the agreement, generic Indian drugs and medical devices can be exported to the franchise of rights to the United Kingdom, in a decision greeted by the country officials. Last year, the United Kingdom imported medicinal and pharmaceutical products worth 667.4 million pounds from India.
“Given the exchange of the United Kingdom of dependence on Chinese imports after Brexit and COVID-19, Indian manufacturers are about to become a favored and profitable alternative, in particular with zero prices for medical devices,” said a PTI-Indian news agency official.
Meanwhile, India will also host the absence of any data exclusivity clause linked to pharmaceutical products from the intellectual property chapter of the agreement, which could have been a threat to the country’s generic sector, the largest in the volume in the world.
Textile manufacturers
The trade agreement removes tariffs on Indian textiles exported to the United Kingdom, imports that should increase by around 85% to 2.9 billion pounds Sterling, according to government assessment. Indian clothing imported from the United Kingdom worth 877.3 million pounds Sterling last year.
Consequently, the government provides that the British textiles, clothing and leather industry should lose 114 million pounds Sterling – the biggest planned decline in any industry. “In turn, this should lead resources to move from sectors assigned to other sectors that have a greater increase in exports,” he said.
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