Topic: Effect of policies and politics of developed and developing countries on India’s interests, Indian diaspora.
4. An India-United Kingdom Free Trade Agreement (FTA) can unlock new opportunities in trade and bring together people, ideas, and institutions that share a common history. Examine. (250 words)
Difficulty level: Moderate
Reference: The Hindu
Why the question:
Formal negotiations for a proposed India-United Kingdom Free Trade Agreement (FTA) would begin on November 1, with an interim ‘early harvest’ agreement to be completed by March 2022, the government stated.
Key Demand of the question:
To write about the advantages of FTA for India-U.K while taking in to account potential bottlenecks.
Examine – When asked to ‘Examine’, we must investigate the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.
Structure of the answer:
Begin by writing about FTA in the context of India-U.K relations.
In first part, give the historical ties between the two nations in brief and current status of bilateral relations.
Next, write about potential benefits of FTA for both the countries especially in aftermath of the disruptions caused by Brexit and Covid-19 pandemic. Mention trade, diaspora, collaboration etc.
Mention, the potential bottlenecks such as non-tariff barriers, IP protection and Tariff’s etc.
Conclude with way forward for the potential realisation of the FTA.