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India, Gulf nations bloc including UAE, Saudi Arabia agree on trade deal terms

Posted on: Feb 05, 2026 13:11 IST | Posted by: Hindustantimes
India, Gulf nations bloc including UAE, Saudi Arabia agree on trade deal terms
INdia and the six-nation disconnection Cooperation Council has in agreement(p) on terms to take up negotiations for a release merchandise agreement, union minister Piyush Goyal said on Thursday. The development comes days after India finalised a free trade pact with the European Union (EU) and sealed a trade deal with the United States.Goyal made the announcement as India and the Gulf nations bloc signed the Terms of Reference (ToR). Goyal said that the “robust” trading arrangement would enable a greater free flow of goods and services, and will encourage more investments.This marks yet another step for India in boosting economic ties with other countries. The agreement between India and the GCC comes weeks after United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan paid to visit to India, a trip that had sparked buzz due to its duration. The UAE President stayed in India for only three hours, during which he also met Prime Minister Narendra Modi and both leaders had reviewed the full scope of bilateral cooperation between the two countries.

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