What happened:
On February 5, India and the Gulf Cooperation Council signed the Terms of Reference for negotiations on a proposed Free Trade Agreement in New Delhi, formally initiating talks for a comprehensive trade pact. The signing was witnessed by Union Commerce and Industry Minister Piyush Goyal and senior officials from both sides.
Why it matters:
The move marks a major step in deepening India–GCC economic integration, with the potential to boost trade, investment, and energy security. It underscores India’s growing economic engagement with the Gulf, a key partner in trade, investment, and diaspora ties.