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India-GCC FTA Talks Launched with Joint Statement

26 February 20261 min read
INTERNATIONAL AFFAIRSIndia-GCC FTATalks Launchedwith JointStatement26 February 2026safalsetu.com

Why in the news

India and the six Gulf Cooperation Council states began structured talks on a free trade pact with a Joint Statement signed in February 2026.

Key facts

  • GCC members: Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain.
  • Expected coverage: goods, services, investment facilitation and regulatory cooperation.
  • The bloc is India’s largest trading partner: USD 178.56 billion in FY 2024-25, above 15% of India’s total trade.
  • GCC FDI in India exceeds USD 31 billion; roughly 10 million Indians live in GCC countries.
DirectionMain items
India exportsEngineering goods, textiles, rice, gems and jewellery
India importsCrude oil, LNG, petrochemicals, precious metals

Exam angle

  • The statement only starts negotiations; no deal has been concluded.

Test yourself

1. How many member states of the GCC are part of the proposed India-GCC FTA?

The agreement covers the six GCC states.

2. What was India-GCC bilateral trade in FY 2024-25?

The notes give USD 178.56 billion, over 15% of India's global trade.

3. Which of these is among India's main imports from the GCC?

Crude oil, LNG, petrochemicals and precious metals are imports; the others are exports.

This topic is part of Daily Current Affairs 26 February 2026 (21 topics).

All topics of the dayDay quizFebruary 2026

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