Editor’s Note
This article reports on a significant step toward deeper economic integration between India and the Gulf Cooperation Council, with the signing of a framework to guide upcoming free trade agreement negotiations.
New Delhi, Feb 6 (Prensa Latina) India and the Gulf Cooperation Council (GCC) have signed the terms of reference that will guide the negotiations for a bilateral free trade agreement regarding scope and modalities, authorities highlighted today.
During the signing ceremony, Minister of Commerce and Industry Piyush Goyal emphasized that the treaty will enable the strengthening of the relationship between both parties to higher levels.
For his part, the chief negotiator of the General Secretariat of the Gulf Cooperation Council, Al Marzouqi, highlighted the signing of the terms of reference as the start of negotiations towards mutually beneficial progress.
The free trade agreement between India and the GCC has significant potential to boost and expand trade with an important region, with which India has long-standing historical ties in this matter, highlighted the Ministry of Commerce and Industry.
India’s trade with the GCC amounted to 178.56 billion dollars in the fiscal year 2024-25, representing 15.42 percent of the South Asian nation’s global trade.
India’s main exports to that region include engineering products, rice, textiles, machinery, gems and jewelry, while it purchases crude oil, liquefied natural gas (LNG), petrochemical products, and precious metals such as gold from there.
The GCC region is also a major source of foreign direct investment (FDI) for India, with cumulative investments exceeding 31.14 billion dollars as of September 2025.
Furthermore, that region is home to almost ten million members of the Indian community.