India and Gulf Cooperation Council sign ToR for FTA

Union Commerce and Industry Minister Piyush Goyal said India’s agreement for a free trade agreement with six Gulf Cooperation Council(GCC) countries will open another major trade corridor. Goyal noted that India will soon announce the first tranche of a trade deal agreed with the United States. He said that the India-US bilateral will be the 9th FTA.The Minister said that the time has come for India and GCC countries to enter into a formal agreement. He said that the India GCC FTA can support diversification and growth of India’s energy sources, strengthening long-term supply security and trade expansion. He noted that currently, the trade between India and GCC stands at 170 billion dollars, and around 10 million Indians live and work in GCC nations. Mr Goyal underlined that the free trade agreement between India and GCC will benefit India’s food processing, infrastructure, petrochemical, and ICT sectors, taking the relationship between the two sides to great heights.

The India-Gulf Cooperation Council (GCC) FTA will become a force multiplier for global good. pic.twitter.com/Fn4rQCzdHI

— Piyush Goyal (@PiyushGoyal) February 5, 2026

On the occasion,India and the Gulf Cooperation Council (GCC) have signed the Terms of Reference for a Free Trade Agreement in New Delhi on Thursday. A comprehensive FTA with all six GCC nations would enhance policy predictability, attract greater investments, and strengthen food and energy security, the minister said. Sectors such as food processing, infrastructure, petrochemicals, and information and communications technology are expected to benefit significantly from the proposed agreement.