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India, 6 Arab countries move closer to free trade agreement: Terms agreed in Delhi-GCC talks
- On February 05, 2026, India and the Gulf Cooperation Council signed Terms of Reference to enable formal negotiations toward an India–GCC free trade agreement.
- After almost two decades of talks, Piyush Goyal said discussions have progressed as under Prime Minister Narendra Modi the GCC became a strategic partner.
- With about 10 million Indians in the GCC, India–GCC merchandise trade reached $178.5 billion in 2024-25.
- Mr. Goyal said the deal could benefit workers, support energy diversification, and attract investments that create opportunities for youth, with India's workforce in the GCC and in India standing to gain.
- Existing FTAs, including with Oman and the UAE, matter because 56% of India–GCC trade is with the UAE, which already has a separate FTA, and India had a $64.8 billion trade deficit in 2024-25.
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India, Gulf Cooperation Council Countries Sign Initial Terms for Free Trade Deal
Get latest articles and stories on Business at LatestLY. India and Gulf Cooperation Council (GCC) member countries have signed Terms of Reference for a Free Trade Agreement (FTA) on Thursday here in the national capital. Business News | India, Gulf Cooperation Council Countries Sign Initial Terms for Free Trade Deal.
Coverage Details
Total News Sources16
Leaning Left1Leaning Right6Center2Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
11%
C 22%
R 67%
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