India and Singapore have clinched a deal to update their Comprehensive Economic Cooperation Agreement (CECA), in a bid to boost bilateral trade and facilitate economic cooperation on multiple fronts. The changes are part of the accord’s second review, with officials flagging in particular the tariffs cuts and simplified rules of origin. “I am especially happy about the completion of the second review of our Comprehensive Economic Cooperation Agreement. But both of us agree that second review is not our destination, it is just a halt. Our executives will soon start discussions to upgrade and improve this agreement,” said Indian Prime Minister Narendra Modi after the meeting with Singaporean Prime Minister Lee Hsien Loong. Following the CECA update, tariffs on 30 products will be slashed or fully eliminated, matching the rates set under a separate free trade agreement between India and the Association of Southeast Asian Nations (ASEAN), of which Singapore is a member. The revised tariffs apply to a variety of sectors, including select foodstuffs and nylon moulding powder. “The upgraded agreement will enable more Singapore companies to qualify for lower tariffs. This improves local exporters’ access to the Indian market. I encourage our companies to make full use of...