suspended external trade negotiations. Momentum returned after India concluded a
Comprehensive Economic Partnership Agreement (CEPA) with the
UAE , although achieving consensus among all six GCC members required time.
The renewed engagement aligns with India’s broader trade strategy of expanding FTAs with complementary economies to:
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Boost exports
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Strengthen energy and food security
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Attract foreign investment
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Generate employment and enhance supply-chain resilience
Exam-Focused Key Points
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GCC includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE
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Terms of Reference (ToR) define the framework for FTA negotiations
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GCC accounts for over 15% of India’s global trade
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India’s exports to GCC: USD 57 bn (≈ Rs4.7 lakh crore)
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India already has trade agreements with UAE and a concluded pact with Oman
Month: Current Affairs - February 06, 2026
Category: Trade & Economy | Energy Security