On July 15, the India-UK Comprehensive Economic and Trade Agreement (CETA) came
GS2Polity · Governance · IR· India's bilateral relations· Prelims + Mains·
Why in news
The India-UK Comprehensive Economic and Trade Agreement (CETA) came into force on July 15, enabling zero-duty imports for Indian jewellery and coffee to the UK.
Background
The CETA covers approximately 99% of all tariff lines for Indian exports to the UK. The agreement aims to increase bilateral trade from $65 billion to $100 billion by 2030.
Facts for Prelims
- FactIndia-UK trade target: $100 billion by 2030
- FactCETA covers 99% of tariff lines for Indian exports to the UK
- PlaceKruti Coffee (Odisha) and Nysa Creations (London) are early beneficiaries of the pact
- BodyUK Department for Business and Trade (DBT) is the UK counterpart for the agreement
For Mains
Q. Examine how bilateral trade agreements like the India-UK CETA can serve as catalysts for industrial growth and employment generation in developing economies.
Dimensions to cover in your answer
- Trade Liberalization: Reduction of tariff barriers on key exports like jewellery and coffee to enhance global competitiveness.
- Economic Integration: Leveraging trade pacts to scale bilateral trade from $65 billion to $100 billion by 2030.
Keywords: Trade Liberalization · Bilateral Trade · Tariff Reduction · Economic Integration · Manufacturing Ecosystem
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This note is generated automatically from SatyaDheesh's news feed and mapped to the UPSC CSE syllabus. Check facts against the original report or PIB before using them in an answer.