India and GCC Sign Terms of Reference to Resume Free Trade Agreement TalksIn February 2026, India and the six-nation Gulf Cooperation Council (GCC) signed the Terms of Reference (ToR) in New Delhi, Delhi, to formally restart negotiations for a Free Trade Agreement (FTA), presided over by Union Minister Piyush Goyal, Ministry of Commerce and Industry (MoCI), and the GCC Chief Negotiator Raja Al Marzoqi.
India–GCC Trade Relations:
ToR Significance: The ToR defines the scope, guiding principles, and modalities for the proposed India–GCC trade pact.
Focus: The pact aims to ensure stable trade policies while boosting market access in the food processing and petrochemical sectors.
About GCC: It is a union of six countries Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Oman, and Bahrain, promoting economic, security, and cultural cooperation.
India–GCC Trade Relations:
ToR Significance: The ToR defines the scope, guiding principles, and modalities for the proposed India–GCC trade pact.
Focus: The pact aims to ensure stable trade policies while boosting market access in the food processing and petrochemical sectors.
About GCC: It is a union of six countries Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Oman, and Bahrain, promoting economic, security, and cultural cooperation.
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