India and Gulf Cooperation Council Launch FTA Negotiations
Analysis based on 25 articles · First reported Feb 24, 2026 · Last updated Feb 24, 2026
The formal launch of Free Trade Agreement negotiations between India and the Gulf Cooperation Council is expected to significantly boost bilateral trade and investment flows, providing increased predictability and certainty for businesses. This could lead to enhanced economic integration and diversification of exports for both sides, positively impacting various industries.
India and the Gulf Cooperation Council (GCC) have formally launched negotiations for a comprehensive Free Trade Agreement (FTA) by signing a joint statement. India's Union Minister of Commerce and Industry, Piyush Goyal, and GCC Secretary General, Jasem Mohamed Al Budaiwi, signed the statement, building on the Terms of Reference signed earlier. This agreement aims to deepen collaboration in key strategic areas including trade in goods, customs procedures, services, digital trade, cutting-edge technologies, and enhanced investment flows. The GCC is India's largest trading partner bloc, with bilateral trade reaching USD 178.56 billion in FY 2024-25. The FTA is anticipated to unlock the full potential of trade, facilitate expansion and diversification of exports, and strengthen economic integration between India and the six GCC member nations: Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.
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