India and the Gulf Cooperation Council have signed the Terms of Reference to formally begin negotiations for a comprehensive Free Trade Agreement.

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• India and the Gulf Cooperation Council signed the Terms of Reference to initiate negotiations for a comprehensive Free Trade Agreement.

• The ToR was signed at Vanijya Bhawan, New Delhi, by Commerce Department and GCC Secretariat General chief negotiators.

• The agreement will define the scope, structure, and modalities of India-GCC FTA negotiations.

• Union Commerce Minister Piyush Goyal termed the proposed FTA a force multiplier for predictable, stable global trade relations.

• The FTA aims to boost trade in goods and services, attract investments, create employment, and strengthen food and energy security.

• India’s trade with GCC stood at USD 178.56 billion in FY 2024–25, accounting for over 15 percent of total global trade.

• GCC comprises six countries with a combined GDP of USD 2.3 trillion and is a major source of foreign direct investment for India.