Question

Which country recently launched formal Free Trade Agreement (FTA) negotiations with India?

• A. USA
• B. UK
• C. Russia
• D. Japan

Answer 1

Answer:

B. UK

With an aim of doubling the trade between India and the United Kingdom (UK) by 2030, the countries launched formal Free Trade Agreement (FTA) negotiations. Bilateral trade between the countries is worth about $50 billion per year. Commerce Minister Piyush Goyal said both countries had agreed to sensitive sectors such as agriculture and dairy sectors. As per WTO, preferential terms can be given if they have bilateral agreements that cover all the trade.