India-US Interim Trade Agreement Framework | Current Affairs | Vision IAS

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In Summary

  • Agreement paves way for comprehensive U.S.-India Bilateral Trade Agreement (BTA).
  • Enhances supply chain resilience and economic security alignment between the U.S. and India.
  • Opens negotiated pathways for Indian generic pharmaceuticals, reinforcing global healthcare supply chains.

In Summary

The agreement paves way for a comprehensive U.S.-India Bilateral Trade Agreement (BTA).

Significance

  • Supply chain resilience: Enhanced economic security alignment and innovation through complementary actions.
  • Pharma Access: Opens negotiated pathways for Indian generic pharmaceuticals, reinforcing India's role in global healthcare supply chains.
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RELATED TERMS

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Generic pharmaceuticals

Medicines that are equivalent to branded drugs in dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use, typically produced after the patent protection of the original drug expires.

Supply Chain Resilience

The ability of a supply chain to withstand, adapt to, and recover from disruptions, ensuring the continuous flow of goods and services.

Bilateral Trade Agreement (BTA)

A trade pact negotiated between two countries to reduce or eliminate trade barriers like tariffs and quotas, aiming to boost economic cooperation and trade volume.

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