India and GCC likely to resume talks on FTA soon

Tuesday, 20 April 2021 10:04:26 (GMT+3)   |   Kolkata

The Indian government has agreed to revive talks on a free trade agreement (FTA) with the Gulf Co-operation Council (GCC), talks which had stalled in 2008, a government official said on Tuesday, April 20.

The official said that the United Arab Emirates (UAE), India’s largest trading partner among the GCC countries, had approached the Indian government seeking a revival of the stalled talks and that the latter has agreed in principle to begin such negotiations.

Indian imports from the GCC in 2020-21 amounted to an estimated $80.5 billion, while exports to the region came to an estimated $40.5 billion.

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