New trade pact a win-win for India and U.K.
Distilled Policy Brief
- A new comprehensive trade agreement has been signed between India and the United Kingdom, aiming to boost bilateral trade and economic cooperation between the two nations.
- The trade pact is expected to increase bilateral trade by up to 10% within the next five years, with India's exports to the U.K. projected to grow by $4.5 billion and U.K. exports to India expected to rise by $3.5 billion.
- The agreement is set to be implemented in phases, with key provisions coming into effect by the end of 2024, pending ratification by the Indian Parliament and the U.K. Parliament.
🎯 UPSC Prelims Practice Drill
With reference to the bilateral research and industrial cooperation engagements between India and Germany, consider the following statements: 1. Roundtables held with German research organizations, such as the Fraunhofer Institutes, prioritized key fields including microelectronics, power electronics, and smart manufacturing. 2. Expanding industry-academia innovation networks and collaboration in battery technologies form key components of the enhanced strategic cooperation. Which of the statements given above is/are correct?
- [A] 1 only
- [B] 2 only
- [C] Both 1 and 2
- [D] Neither 1 nor 2
▶ Reveal Official Answer & Analytical Explanation
Both statements are correct. High-level roundtables with German research institutes, including Fraunhofer Institutes, focused on microelectronics, power electronics, smart manufacturing, battery technologies, and logistics. Furthermore, the engagement emphasized strengthening industry-academia innovation networks, science and technology cooperation, and advanced manufacturing capabilities between India and Germany.
🏛️ Historical Twin PYQ Anchor (2021)
Consider the following statements regarding the "National Clean Air Programme (NCAP)": 1. It is implemented by the Ministry of Environment, Forest and Climate Change. 2. Central Pollution Control Board acts as the sole regulatory executive body.