International Current Affairs MCQs - 2026-10-22

Beyond tariffs, non-tariff barriers like complex customs procedures, differing technical regulations, and sanitary and phytosanitary measures often hinder trade. India aims to streamline these through the agreement.

India has a strong interest in enhancing market access for its services sector, particularly financial and professional services, IT, and healthcare, in the UK market.

While FTA is a broader term, India often aims for a Comprehensive Economic Partnership Agreement (CEPA) or Comprehensive Economic Cooperation Agreement (CECA) which are more extensive, covering not just goods but also services, investment, intellectual property, and other areas. The India-UK talks are aiming for a comprehensive deal.

The veto power held by the five permanent members (P5) is a major point of contention, with many member states advocating for its abolition or significant reform to make the UNSC more democratic and representative.

The G4 Nations (Brazil, Germany, India, and Japan) are four countries that support each other's bids for permanent seats on the UN Security Council. They advocate for the expansion of both permanent and non-permanent categories.

The UN Security Council currently has five permanent members: China, France, Russia, the United Kingdom, and the United States. These five powers hold veto power.