Desk News : VOC

After concluding trade agreements with the European Union and the United States, India has now begun talks with the Gulf Cooperation Council (GCC) for a Free Trade Agreement (FTA).

The GCC includes six countries — Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. Bilateral trade between India and the GCC touched nearly $179 billion in 2024–25.

India’s Commerce Minister Piyush Goyal recently signed a preliminary framework agreement with GCC officials to begin formal negotiations. Once finalized, the FTA will allow Indian goods to be exported to these Gulf nations with reduced or zero customs duty.

India, a major food grain producer, stands to benefit from wider market access, while GCC nations — key exporters of oil and gas — will gain stronger trade ties with one of the world’s fastest-growing economies.

Economist and UN adviser Jeffrey Sachs said that West Asia is an important market for India and reducing dependence on the US by expanding trade partnerships is a smart long-term strategy.

International Desk : Voice of Calcutta