India and GCC Launch Negotiations for Comprehensive Free Trade Agreement

India and the Gulf Cooperation Council (GCC), comprising six Middle Eastern countries, formally launched negotiations for a comprehensive free trade agreement (FTA) by signing a joint statement in New Delhi. Commerce Minister Piyush Goyal and GCC Secretary General Jasem Mohammad Al Budaiwi highlighted the pact's potential to enhance trade, services, digital commerce, and investment flows. Bilateral trade reached $178.56 billion in 2024-25, with the FTA aiming to deepen cooperation in strategic sectors amid growing economic ties and shared historical links.