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India is considering signing a Preferential Trade Agreement (PTA) with which nation?
A)
Oman
B)
Yemen
C)
Hungary
D)
Uzbekistan

Correct Answer :   Oman


The Union Minister of Commerce and Industry, "Piyush Goyal" informed on May 12, 2022 that India may consider negotiating a preferential trade agreement (PTA) with Oman. If the proposed trade deal goes through, Oman would be the second Gulf Cooperation Council (GCC) after the UAE to have a trade agreement with India. 
 
Experts have said that gulf nations are working to diversify away from the conventional oil-based economy to modern financial sectors and free trade agreements (FTAs) are part of the effort to do so. 
 
India is also negotiating a trade agreement with the GCC which includes UAE, Oman, Bahrain, Kuwait, Qatar and Saudi Arabia. Oman will also be part of the negotiations for a trade agreement that India is having with the GCC countries..

Source : Live Mint

Published On : May 12, 2022
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