Explainer: Why India-GCC FTA talks are significant for both sides
Business
India and the Gulf Cooperation Council (GCC) just restarted talks for a free trade agreement—something that's been on pause since 2004.
Both sides met in New Delhi this month to lay out a plan, with Commerce Minister Piyush Goyal saying it builds on deals India already has with the UAE and Oman.
What does the FTA mean for India?
The GCC is a huge deal for India—think $178 billion in trade last year, plus over 8 million Indians living and working there who send home $45 billion every year.
This new FTA could make business smoother by tackling things like digital trade, easier visas, and job mobility.
If it goes through, it could mean faster projects for Indian companies in tech and infrastructure, more job opportunities abroad, and stronger energy security back home.