India, Free Trade
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India is projected to add $1 trillion to its GDP every 12–18 months to 2047. With this momentum, India is targeting a $30 trillion economy by 2047.
The historic trade deal is expected to provide comprehensive market access for Indian goods across all sectors.
India's economy continues to hold up against a global flux, dealing with the impact of geopolitical tensions and trade uncertainties, the Reserve Bank of India said in its monthly bulletin released on Wednesday.
The India-UK Free Trade Agreement (FTA) or the Comprehensive Economic and Trade Agreement (CETA) seeks to enhance bilateral trade by around USD 34 billion annually, besides ensuring better market access.
Indian auto industry praises India-UK FTA for boosting global economic engagement, providing market access for car makers.
The country’s growth will be drive by its states, with three to five states, including Maharashtra, Tamil Nadu, Gujarat, UP and Karnataka expected to reach $ 1 trn-mark
India's sustained economic growth makes it an "anchor of stability” for the world, which needs new engines of growth and development models that can be scaled and shared.
India was unable to secure an exemption from the UK’s carbon tax in the free trade agreement, signed on Thursday, a move that will impact India’s carbon-intensive exports to Britain, think tank GTRI said on Friday.
India’s economy was worth $3.7 trillion in 2023, making it the world’s fifth largest, having jumped four spots in the rankings during Modi’s decade in office.