India and GCC Initiate Free Trade Agreement Negotiations

India and the Gulf Cooperation Council (GCC) have commenced negotiations for a Free Trade Agreement, marking a pivotal milestone in their trade relationship. The formal announcement was made in New Delhi with the signing of a Joint Statement by Shri Piyush Goyal, Union Minister of Commerce and Industry, and His Excellency Jasem Mohamed Albudaiwi, Secretary General of the GCC. This agreement is anticipated to strengthen economic ties and boost trade between India and the region, which has been India's largest trading partner bloc with bilateral trade reaching USD 178.56 billion in FY 2024-25.

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