Expressing disappointment and concern over the European Union banning sale of around 700 pharma products, clinically tested by GVK Biosciences, India has deferred the talks with the EU on the proposed free trade agreement. Chief negotiators of India and the EU were scheduled to resume the negotiations on the Broad-based Investment and Trade Agreement (BTIA) this month.<br/><br/>The Commerce and Industry Ministry said in a statement that this decision has been taken as the Government of India is disappointed and concerned by the action of EU in imposing legally binding ban on the sale of around 700 pharma products clinically tested by GVK Biosciences, Hyderabad. <br/><br/>It said, the government has engaged on the issue with various EU regulators over past eight months. The statement said, Pharmaceutical industry is one of the flagship sectors which has developed its reputation through strong research and safety protocols over the years and therefore, the government will examine all options in this regard.<br/><br/>The India-EU trade talks, formally known as the Broad-based Trade and Investment Agreement (BTIA), remain stuck as both sides are not satisfied with each other's offers. The talks were launched in June 2007 and have missed several deadlines. The two-way commerce between the two sides stood at about USD 99 billion in 2014-15. <br/><br/>The European Union has banned the marketing of around 700 generic medicines for alleged manipulation of clinical trials conducted by India's pharmaceutical research company GVK Biosciences. <br/><br/>The largest EU-wide suspension of sales and distribution of generic drugs ordered by the European Commission will come into effect on August 21 and it will be applicable to all 28 member nations, according to Germany's drug regulator, the Federal Institute for Medicines and Medical Products.