India And GCC Launch FTA Negotiations To Boost Trade

Trade & Policy

India And GCC Launch FTA Negotiations To Boost Trade

On 24 February 2026, Piyush Goyal, Union Minister of Commerce and Industry, and Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), signed a Joint Statement launching negotiations for the India–GCC Free Trade Agreement (FTA) in New Delhi. The FTA aims to strengthen trade, investment, and economic integration, building on deep historical, cultural, and people-to-people ties. India’s trade with GCC reached US$ 178.56 billion in FY24-25, with exports of US$ 56.87 billion. Key sectors include engineering goods, textiles, petrochemicals, LNG, and crude oil. The agreement is expected to expand exports, attract investment, and unlock the region’s full trade potential.

The FTA aims to strengthen trade, investment, and economic integration, building on deep historical, cultural, and people-to-people ties. India’s trade with GCC reached US$ 178.56 billion in FY24-25, with exports of US$ 56.87 billion. Key sectors include engineering goods, textiles, petrochemicals, LNG, and crude oil. The agreement is expected to expand exports, attract investment, and unlock the region’s full trade potential.

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