1 week ago
India, GCC Review Free Trade Talks and Regional Cooperation
India and six Gulf countries talked about working more closely together.
Their representatives met in Riyadh, Saudi Arabia.
They discussed a possible Free Trade Agreement, which could make trade and investment between them easier.
They also talked about events in the region and around the world.
The countries are preparing for a ministerial meeting next month.
India and the GCC restarted trade negotiations in February after earlier talks had been delayed.
The GCC is an important trading partner for India, with trade worth about USD 178.56 billion in 2024-25.
Nearly 10 million Indians live in the GCC countries.
India and the six-nation Gulf Cooperation Council discussed bilateral cooperation and Free Trade Agreement negotiations in Riyadh.
Indian Ambassador Vipul met GCC Secretary-General Jasem Mohamed Albudaiwi during the meeting on Sunday.
The two sides exchanged views on regional and international developments and emphasized continued coordination on common interests.
They reviewed preparations for a ministerial meeting scheduled for the following month, according to the GCC Secretariat.
India-GCC trade reached USD 178.56 billion in 2024-25, while nearly 10 million Indians live in the Gulf region.
- Who
- Indian Ambassador to Saudi Arabia Vipul and GCC Secretary-General Jasem Mohamed Albudaiwi represented the two sides.
- What
- They discussed India-GCC cooperation, Free Trade Agreement negotiations, regional and global developments, and preparations for a ministerial meeting.
- Where
- Riyadh, Saudi Arabia.
- When
- The meeting took place on Sunday; the articles also report that FTA negotiations resumed in February.
- Why
- The discussions aimed to strengthen India-GCC relations, advance trade negotiations, and coordinate on issues of common interest.
Key facts
- GCC members
- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
- Main economic issue
- Negotiations for a comprehensive India-GCC Free Trade Agreement.
- Negotiation framework
- India and the GCC signed Terms of Reference in February to define the scope and procedures for the FTA talks.
- Trade value
- Bilateral trade reached USD 178.56 billion in 2024-25, according to official data cited by PTI.
- Trade balance
- India's exports to the GCC were about USD 56.87 billion, while imports were valued at USD 121.68 billion in 2024-25.
- Indian community
- Nearly 10 million members of the Indian community live in the GCC region.
- Cooperation areas
- Political dialogue, security, trade, investment, agriculture, food security, transport, energy, health, culture and education.
Quotes
Indian Embassy in Saudi Arabia
India’s diplomatic mission in Saudi Arabia, which reported the ambassador’s meeting with the GCC secretary-general
“Ambassador Shri Vipul met H.E. Mr Jasem Mohamed Albudaiwi, Secretary-General of the Gulf Cooperation Council (GCC), today. Both discussed India-GCC cooperation, including FTA negotiations and strengthening high-level engagements. They also exchanged views on regional and global developments of mutual interest.”
thehansindia.com
theprint.in
Sources
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