India Ready to Talk Trade Treaty With Canada
Listen to the story
India has said it is ready to begin treaty talks with Canada on trade.
The two countries could reach trade worth Rs 4.65 lakh crore.
Indian officials Nirmala Sitharaman and Piyush Goyal are visiting foreign countries.
They are trying to attract more foreign investors to India.
The officials are also promoting India's economic growth and recent reforms.
Finance Minister Sitharaman specifically invited Canadian pension funds to join.
Pension funds manage large amounts of money saved for retirement.
These funds are often used for long-term investment projects.
Sitharaman asked them to take part in India's asset monetisation drive.
This drive allows India to earn money from public assets like roads and railways.
By selling or leasing rights to these assets, India can raise funds for new projects.
India sees this as a good opportunity for stable, long-term investors.
A trade treaty with Canada could boost bilateral trade and business ties.
It may also open new markets for companies in both countries.
The push shows India's wider strategy to attract global capital.
Officials hope stronger ties with Canada will support India's economic goals.
No details were given about when formal treaty talks might start.
Vocabulary7 words
- treaty
- an official agreement between two countries
- investors
- people or groups who put money into projects to earn profit
- reforms
- changes made to improve a system
- pension funds
- large funds that manage savings for people's retirement
- investment
- money put into something to gain future benefit
- asset monetisation
- using owned property or infrastructure to earn money
- bilateral
- involving two countries or groups
Quiz
Answer key
1. Rs 4.65 lakh crore 2. Join India's asset monetisation drive 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
India has said it is ready to begin _____ talks with Canada on trade.
The two countries could reach trade worth Rs _____ crore.
Indian officials Nirmala Sitharaman and Piyush _____ are visiting foreign countries.
They are trying to attract more foreign _____ to India.
Finance Minister Sitharaman specifically invited Canadian _____ funds to join.
Sitharaman asked them to take part in India's asset _____ drive.
This drive allows India to earn money from public _____ like roads and railways.
A trade treaty with Canada could boost _____ trade and business ties.
The push shows India's wider strategy to attract global _____.
Officials hope stronger ties with Canada will support India's economic _____.
Discussion questions
- Why might countries like India want to sign trade treaties with other nations?
- What benefits could pension fund investment bring to a country's infrastructure?
- How does asset monetisation help a government raise money without new taxes?
- Do you think foreign investment always benefits the country receiving it? Why or why not?