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The India–United Kingdom Comprehensive Economic and Trade Agreement (CETA), along with the Agreement on Social Security, also known as the Double Contribution Convention (DCC), formally entered into force today, marking a major milestone in the economic partnership between the two countries. A formal inauguration event to mark the entry into force of CETA was held at Vanijya Bhawan, New Delhi. The function was attended by Her Excellency Ms.
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What is the name of the agreement that provides zero-duty market access for nearly 99 per cent of India's exports?
CETA provides zero-duty market access for nearly 99 per cent of India's exports, making it a significant trade agreement between India and the UK.
Consider the following statements regarding India-UK CETA and Agreement on Social Security: 1. The India-UK Comprehensive Economic and Trade Agreement (CETA) provides zero-duty market access for nearly 99 per cent of India's exports. 2. Under the leadership of Prime Minister Shri Narendra Modi, the Agreements have come into force. 3. The Agreement on Social Security strengthens the partnership by exempting Indian professionals on temporary assignments in the United Kingdom from double social security contributions for up to ten years. How many of the above statements are correct?
Statement 1 is correct because the text states that 'Under the leadership of Prime Minister Shri Narendra Modi, the Agreements have come into force, providing zero-duty market access for nearly 99 per cent of India's exports...' Statement 2 is also correct as it directly quotes from the source. However, Statement 3 is false because the text specifies that Indian professionals on temporary assignments in the United Kingdom are exempted from double social security contributions for up to five years.