The Comprehensive Economic Partnership Agreement (CEPA) is a free trade agreement between India and Japan that aims to strengthen economic ties between the two countries. The agreement covers a wide range of sectors, including goods, services, and investments.
The CEPA was signed in 2011 and came into effect in 2013. It is considered a landmark agreement as it was the first comprehensive economic partnership agreement signed by India with any country. Since then, similar agreements have been signed with other countries such as South Korea and ASEAN.
One of the key features of the CEPA is the elimination of tariffs on a significant number of goods traded between India and Japan. This has resulted in increased trade between the two countries, particularly in sectors such as automobiles, electronics, and pharmaceuticals.
The agreement also includes provisions to facilitate investments between India and Japan. This includes the removal of restrictions on foreign investment in certain sectors, and the establishment of a framework for investment protection.
In addition, the CEPA has provisions to promote cooperation between India and Japan in areas such as science and technology, energy, and environmental conservation. This includes the establishment of a joint committee to oversee the implementation of the agreement and to identify areas for further cooperation.
From the perspective of the Union Public Service Commission (UPSC), the CEPA is a significant development in India’s international trade and economic relations. As such, it is likely to feature in the UPSC’s exams and interviews. It is important for candidates to have a good understanding of the agreement, its provisions, and its implications for India’s economy and trade relations.
In conclusion, the Comprehensive Economic Partnership Agreement (CEPA) between India and Japan is an important free trade agreement that has strengthened economic ties between the two countries. Its provisions cover a wide range of sectors and promote cooperation in areas such as science and technology, energy, and environmental conservation. As such, it is likely to feature in UPSC exams and interviews, and candidates should be familiar with its provisions and implications for India’s economy and trade relations.