CURRENT AFFAIRS

Detailed explanation-1: -The country has recently signed three such agreements with Mauritius, the UAE and Australia. Further, India is also actively engaged in FTA negotiations with some of its trading partners including the UK, European Union and Canada.

Detailed explanation-2: -Yes, the #IndAusECTA was signed last year, on 2nd April, 2022; after Ratification and Exchange of Written Instruments, the Agreement has come into force on 29th December 2022. It helps matters that Australia exports largely raw materials to India, while India exports finished goods.

Detailed explanation-3: -Currently, India is a part of 12 free trade agreements or regional trade agreements that help engage with other countries.