India, 6 Arab Nations Near Free Trade Deal: Terms Agreed in Delhi-GCC Talks

• India and the six-member Gulf Cooperation Council (GCC) signed the Terms of Reference (ToR) in Delhi to formally begin free trade agreement (FTA) negotiations.
• The GCC includes Saudi Arabia, UAE, Bahrain, Kuwait, Oman, and Qatar, marking a significant step to strengthen economic ties.
• Union Minister Piyush Goyal stated the proposed FTA would be "robust," facilitating greater flow of goods, services, and investments.
• This move adds momentum to India's economic outreach, following recent high-level engagements like Sheikh Mohamed bin Zayed Al Nahyan's visit.
• India has also recently concluded trade deals with the United States and the European Union, reducing tariffs and boosting economic cooperation.