India, Gulf Cooperation Council sign terms of reference to begin FTA talks

India and the Gulf Cooperation Council (GCC) have signed the terms of reference to initiate negotiations for a Free Trade Agreement (FTA). The agreement was signed in the presence of Commerce and Industry Minister Piyush Goyal. The GCC comprises six Gulf nations—Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain. The proposed FTA aims to boost trade and investment ties between the two regions. India already has trade agreements with the UAE and Oman, and talks with GCC mark a resumption of stalled negotiations.