Mumbai, Feb. 25 -- The Joint Statement on the India-GCC Free Trade Agreement (FTA) was signed between Piyush Goyal, Union Minister of Commerce and Industry and His Excellency Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council on 24th February 2026 in New Delhi formally launching negotiations for a comprehensive and mutually beneficial agreement. Piyush Goyal emphasized that the Statement along with the Terms of Reference (ToR) for FTA which were signed on 5thFebruary, 2026, mark a significant milestone in the relationship between India and GCC countries.

He underscored that the relationship which is deeply rooted in shared history and cultural linkages, would get further impetus from a broad-based and mutually ben...