India-UK CETA and Social Security Agreement: PM Modi Hails 'Significant Moment'
UPSC / SSC current affairs note · Economy
Why in news
PM Modi has welcomed the commencement of the India-UK Comprehensive Economic and Trade Agreement (CETA) and a Social Security Agreement, describing it as a 'significant moment' that will deepen economic ties and create opportunities for farmers, MSMEs, and professionals working temporarily in the UK.
Background
India and the UK have been negotiating a free trade agreement (FTA) for several years. The CETA is a key component of these negotiations, aiming to reduce tariffs and non-tariff barriers. The Social Security Agreement is intended to protect the social security benefits of workers moving between the two countries.
Key facts
PM Modi hailed the commencement of the India-UK Comprehensive Economic and Trade Agreement (CETA) and a Social Security Agreement.
He called it a 'significant moment' that will deepen economic linkages.
The agreements are expected to create tangible opportunities for farmers, MSMEs, and professionals working temporarily in the UK.
The CETA aims to boost bilateral trade and investment between India and the UK.
The Social Security Agreement will help protect social security benefits for workers moving between the two countries.
Prelims pointers
- India-UK Comprehensive Economic and Trade Agreement (CETA)
- Social Security Agreement between India and UK
- Bilateral trade agreements
- MSMEs (Micro, Small and Medium Enterprises)
Mains angles
- Discuss the significance of the India-UK CETA in enhancing bilateral economic relations.
- Critically examine the potential impact of the Social Security Agreement on Indian professionals working in the UK.
- Analyze the role of trade agreements in promoting economic growth and job creation in India.