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.