An important agreement has been signed between India and the Gulf Cooperation Council (GCC) on 5 February 2026 at the Commerce Building in New Delhi. Both sides have signed the Terms of Reference (ToR) for the Free Trade Agreement (FTA). Union Minister Piyush Goyal, Minister of State Jitin Prasada and Commerce Secretary Rajesh Agrawal were also present on this occasion. The agreement was signed by Ajay Bhadoo from the Indian side and Dr. from the GCC side. Signed by Raja Al Marzouqi. This document will decide the path of further negotiations.
What will be the benefit to common people and businessmen from this agreement?
Union Minister Piyush Goyal has called this agreement a big step for the betterment of the world. He said that this will bring stability in the relations between the two sides. The main objective of this agreement is to ease the movement of goods and services between India and the Gulf countries.
When this FTA is fully implemented, it is expected to bring investment on a large scale. Besides this, job opportunities will also increase. Food security and energy security between the two sides will also be strengthened. This agreement sets the terms and conditions for future negotiations.
Big figures of trade between India and GCC
The trade relationship between India and Gulf countries is very old and strong. According to current data, GCC countries account for about 15.42% of India’s total global trade. About 10 million Indians live in the Gulf countries that connect the two regions.
Details Figures Total Trade (2024-25) 178.56 billion dollars India’s exports 56.87 billion dollars India’s imports 121.68 billion dollars Investment (FDI) from Gulf countries more than 31.14 billion dollars Population of GCC 6.15 crores