Union Minister Piyush Goyal said that the Trade Minister of New Zealand is going to visit India in the last week of April. During this period, discussions on finalizing the Free Trade Agreement (FTA) between the two countries may intensify. The government's aim is to increase investment and exports between the two countries by making trade easier.
The government is also active on trade agreements with Oman. According to the information, FTA deal with Oman is expected to be signed on May 1. India can get huge benefits from this, especially in the energy and petrochemical sectors. Oman is an important strategic and trading partner for India.
Talks are also going on regarding trade deal with Canada. A large business delegation from India will go to Canada in late May or June, where new opportunities for investment and trade will be discussed. This is expected to give a new direction to the economic relations between the two countries.
The government has made it clear that there is no shortage of petroleum products in the country. Consignments of LNG and LPG are continuously reaching India, due to which the energy supply is maintained. Due to this, no pressure is being allowed on the common people and industries.
The government is making continuous efforts to ensure that the ongoing conflict in West Asia has minimal impact on India. However, its impact on shipping freight has definitely been seen, due to which the cost has increased. Despite this, the government is working on alternative measures to maintain smooth supply and trade.
