India, GCC Launch FTA Negotiations
Analysis based on 6 articles · First reported Feb 24, 2026 · Last updated Feb 25, 2026
The formal launch of FTA negotiations between India and the Gulf Cooperation Council is expected to significantly boost bilateral trade and investment, providing greater predictability and certainty for businesses. This could lead to increased exports for India in engineering goods, textiles, and machinery, while ensuring stable imports of crude oil and LNG from the Gulf Cooperation Council, positively impacting both economies.
India and the Gulf Cooperation Council (GCC) have formally launched negotiations for a comprehensive Free Trade Agreement (FTA) by signing a joint statement in New Delhi on February 24, 2026. The statement was signed by India's Union Minister of Commerce and Industry, Piyush Goyal, and GCC Secretary General Jassim Al-Budaiwi. This initiative aims to deepen trade and investment ties, building on existing historical and cultural linkages. The Terms of Reference for the FTA were signed earlier on February 5, 2026. The Gulf Cooperation Council is India's largest trading partner bloc, with bilateral trade reaching $178.56 billion in FY 2024-25. The proposed agreement is expected to enhance economic integration, diversify exports, and strengthen trade in goods, services, and digital trade, while also increasing investment flows between India and the six Gulf Cooperation Council member nations (Saudi Arabia, United Arab Emirates, Oman, Qatar, Kuwait, and Bahrain).
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