India, Aug. 20 -- India and the Eurasian Economic Union (EAEU), comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and the Russian Federation signed the Terms of Reference (ToR) to launch negotiations on a Free Trade Agreement (FTA) on Wednesday in Moscow.

The ToR was signed by Additional Secretary, Department of Commerce, Government of India, Ajay Bhadoo, and Deputy Director, Trade Policy Department, Eurasian Economic Commission (EEC), Mikhail Cherekaev.

"The heads of negotiation groups apprised the Minister about the milestone achieved with the signing of the ToR and discussed next steps to formally launch the negotiation process, including organizational aspects of the future trade deal," read the statement.

Both sides noted t...