Global wars are delaying FTA talks, accounting for one-fifth of India’s trade
Ongoing global conflicts are causing significant delays in India's free trade agreement negotiations with the GCC, Israel, and the Eurasian Economic Union. These regions represent approximately 20% of India's total trade, making the stalled talks a strategic concern.
Why it matters
Trade delays due to geopolitical instability can hinder economic growth and limit market access for Indian exporters.
The ongoing wars in the world have led to various degrees of delays in the negotiations of at least three separate trade deals that India is working on, sources in the government have confirmed. These deals involve countries that cumulatively account for about 20% of India’s total trade.
These negotiations are on separate FTAs with the Gulf Cooperation Council (GCC) countries , Israel , and the Russia-led Eurasian Economic Union .
“The GCC team had come to Delhi for the signing of the Terms of Reference (ToR) of the deal and so it is our turn to go there for the round of negotiation,” a senior official in the Ministry of Commerce and Industry told The Hindu . “But with all this happening [the ongoing war in West Asia], that visit is pending.”
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