The Commerce Secretary, Dr Rahul Khullar, on Thursday said that free trade agreements with Europe, Canada and New Zealand are likely to be through by the end of this fiscal. Preferred trade agreements with Colombia and some other countries in that region are also being worked out, he said.
Reiterating the need to diversify into new markets to counter global uncertainties in markets such as the European Union, Japan and the US, Dr Khullar said : "We hope to put in place FTAs by the end of this fiscal."
The Commerce Secretary was speaking at an interactive session organised by the CII.
"We are looking at preferential trade agreements or FTAs with Colombia and some other countries in the region," he said.
DEPB and Inflation
According to Mr Khullar, the Ministry was also planning to put in place a package for exports within next three weeks. The package is likely to come in place of the DEPB scheme.
He added that exchange rates are likely to remain volatile. Currently, the country is witnessing a high interest cycle and may see a little more peaking.
"Both interest rates and inflation however, are likely to come down in the next 12 to 15 months," Dr Khullar said.