Developing Countries Trading Scheme

Context: The U.K. has introduced a news scheme- Developing Countries Trading Scheme (DCTS) About Developing Countries Trading Scheme:
  • DCTS will provide duty-free, quota-free trade to Least Developed Countries (LDCs) on everything but arms and duty-free.
  • It will contribute to developing countries’ integration into the global economy by creating stronger trade and investment partners for the future and strengthening supply chains.
  • The DCTS makes it easier to produce goods using components from other countries without losing duty-free status
  • Impact on India: Indian goods worth $960 million will lose their concessional duty access to the U.K. market.                                                 
News Source: TOI
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