Overview

• India has formally urged UK Parliament to fast-track approval of the July 24 CETA so it can grant zero-duty access to 99% of Indian exports within six months.
• The commerce ministry’s four-pillar plan focuses on bolstering export competitiveness, strengthening promotion, diversifying products and markets, and broadening import sources.
• Exporters are being encouraged to secure UK contracts now, with the government offering facilitation even before the pact officially enters into force.
• Talks with the European Union have been fast-tracked with hopes of concluding an FTA by year-end, and the Oman CEPA is ready for signing once dates are set.
• India is also boosting utilisation of existing FTAs and targeting 50 priority markets that account for over 90% of its exports to offset rising US duties.