Global conflicts pause India trade talks worth about $243 billion
India's major trade talks with the Gulf countries, Israel, and Russia-led EAEU have hit pause because of ongoing global conflicts.
These regions make up almost one-fifth of India's total trade, amounting to about $243 billion yearly with these regions, so these delays are a pretty big deal for the economy.
India's GCC Israel EAEU talks disrupted
Talks with the Gulf Cooperation Council (GCC) stalled after tensions spiked in February following the US attack on Iran: countries like Saudi Arabia, Qatar, and the UAE do $178.7 billion in business with India every year.
India-Israel talks also got delayed by regional conflict but finally picked back up this July after a delay.
As for Russia and its neighbors in the EAEU, negotiations are happening online due to the Ukraine war, but scheduling face-to-face meetings is tough. India trades $60.7 billion with them annually.