India and the Gulf Cooperation Council are seeking to realize their full bilateral economic potential through the India-GCC Free economic Agreement, which was discussed on the sidelines of the UN General Assembly in New York over the weekend.
The trade negotiations took place between India’s External Affairs Minister S. Jaishankar and Gulf officials, including Saudi Minister of State for Foreign Affairs Adel Al-Jubeir and GCC Secretary General Jasem Mohamed Albudaiwi.
According to an Arab News report, bilateral trade between the Gulf Cooperation Council and India was worth more than $178 billion in the fiscal year 2025-26. The Gulf region also has approximately 10 million Indian diaspora.
“Commencing Free Trade Agreement negotiations between the GCC and India marks a pivotal milestone toward broadening economic and investment horizons,” the GCC Secretariat said in a statement.
During the meeting, Albudaiwi also “emphasised the imperative of deepening collaboration” across various areas, including energy, technology, innovation and digital transformation.
India already has Comprehensive Economic Partnership Agreements with Oman and the United Arab Emirates, both of which are GCC members.
According to the report, a free trade deal with the GCC will benefit Delhi by improving market access for Indian exports, deepening integration with supply chains, and creating more opportunities for Indian services and qualified individuals.
While an FTA has typically benefited India’s machinery, textiles, gems, and jewelry industries, other sectors such as agriculture and processed foods, medicines and medical devices, and services are projected to benefit more in the Gulf region, the report stated.
The Gulf Cooperation Council is one of India’s main trading partners. Even at the individual country level, the UAE ranks third and Saudi Arabia fifth among India’s international economic partners. The FTA is intended to open the path for further development of the economic partnership, according to the article.
Source: IANS







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