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India’s trade pacts

As India looks at trade pacts with the UK and the European Union (EU), New Delhi could consider similar agreements with Quad partners Australia and the US. Recently, India and the UK reported their aim to have an Enhanced Trade Partnership that lays out the objective of doubling exchange by 2030 and preparing for a future UK-India Free Trade Agreement (FTA). Apart from this India and the US had been looking at a limited trade deal during the Trump administration that was to encompass 50 to 100 goods and services, but both sides were unable to clinch it. Talks with the new Biden administration are yet to begin. The Australia Economic Strategy also noted that Australia “is an ideal vital accomplice for India in its excursion to accomplish an extraordinary and comprehensive financial development.”

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