AdvaMed Statement on United States-India Trade Policy Forum

WASHINGTON, D.C. – Today, the Advanced Medical Technology Association (AdvaMed), the largest trade association representing medical device manufacturers, issued the following statement from President and CEO Scott Whitaker on the Joint Statement issued by the United States Trade Representative and India’s Ministry of Commerce & Industry at the conclusion of the 13th Ministerial-level meeting of the United States-India Trade Policy Forum (TPF) in Washington, DC, on January 11.  

“I congratulate Ambassador Tai and Minister Goyal for a successful conclusion of the TPF, which continues to advance the bilateral economic relationship between our countries by setting the stage for ambitious new workstreams while chipping away at longstanding issues. I am pleased to see forward-leaning language from Ambassador Tai and Minister Goyal on the positive impact of Trade Margin Rationalization (TMR) on patient access to affordable medical devices during the Covid Pandemic and an agreement continue to exchange views on pricing issues for cardiac stents and knee implants that would facilitate access to cutting edge medical technology at affordable prices to the patients. 

“In addition, our industry was encouraged to note that both sides have acknowledged in the Joint Statement the importance of continuing to engage on the Draft Drugs, Medical Devices and Cosmetics Act which is expected to be tabled before parliament later this year. This is a critical piece of legislation that we are watching closely to ensure that India’s regulations are globally harmonized and supportive of global consensus standards. We thank both sides for their hard work, and hope the current momentum continues to advance market access to critical medical technologies and support patients globally in the upcoming Trade Policy Forum cycle.” 

Read the joint statement from USTR Ambassador Tai and Minister Goyal here. 

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AdvaMed is the world’s largest medical technology association, representing device, diagnostics, and digital technology manufacturers that are transforming health care through earlier disease detection, less invasive procedures, and more effective treatments.