Foreign Trade Policy — Current Affairs 2026
Current Affairs Connections
India-UAE Comprehensive Economic Partnership Agreement Implementation
May 2024The India-UAE CEPA, which came into effect in May 2022, has shown significant results by 2024 with bilateral trade reaching USD 85 billion. This agreement exemplifies how FTP 2023's emphasis on bilateral trade partnerships translates into concrete economic benefits. The agreement's success in sectors like gems and jewelry, textiles, and engineering goods demonstrates the effectiveness of targeted market access negotiations. The digital trade provisions and mutual recognition agreements under the CEPA align with FTP 2023's focus on services exports and digital transformation. From a UPSC perspective, this development illustrates the practical implementation of trade policy objectives and the importance of bilateral agreements in achieving export targets.
UPSC Angle: Expected questions on bilateral trade agreements, their impact on domestic industries, and integration with multilateral trade frameworks like WTO
Launch of National Green Hydrogen Mission and Export Potential
January 2024The National Green Hydrogen Mission's target of producing 5 MMT of green hydrogen by 2030 directly connects with FTP 2023's emphasis on sustainable and high-value exports. Green hydrogen represents a new frontier for India's export diversification strategy, potentially adding USD 100 billion to export revenues by 2030. The mission's integration with export promotion schemes like PLI and EPCG demonstrates policy coordination between industrial and trade policies. This development showcases how emerging technologies can create new export opportunities while supporting global climate commitments. The establishment of green hydrogen export hubs aligns with FTP 2023's infrastructure development priorities.
UPSC Angle: Questions likely on renewable energy exports, policy integration between different ministries, and India's role in global green transition