India, GCC review FTA talks in Riyadh ahead of ministerial meeting

Dubai,UPDATED: Aug 24, 2026 13:46 IST

India and the Gulf Cooperation Council (GCC) have reviewed the ongoing negotiations for a free trade agreement during wide-ranging talks in Riyadh between India’s ambassador to Saudi Arabia, Vipul, and GCC Secretary General Jasem Mohamed Albudaiwi. The two sides also discussed ways to strengthen India-GCC ties and reviewed preparations for a ministerial meeting scheduled next month, according to a statement by the GCC Secretariat.

The meeting is significant as India and the GCC resumed negotiations in February for a comprehensive trade agreement aimed at boosting bilateral trade and investment. The talks had been temporarily stalled in June because of the West Asia crisis. The GCC is India’s largest trading partner bloc, with bilateral trade reaching USD 178.56 billion in 2024-25, accounting for 15.42 per cent of India’s global trade, according to official data.

The GCC, established in 1981, comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. During Sunday’s meeting, India and the GCC also affirmed the importance of continued coordination and consultations on issues of common interest to contribute to regional security and stability, the GCC statement said.

In a post on X, the Indian Embassy in Riyadh said, "Both discussed India-GCC cooperation, including FTA negotiations and strengthening high-level engagements. They also exchanged views on regional and global developments of mutual interest."

Official data showed that India’s exports to the GCC stood at about USD 56.87 billion in 2024-25, while imports were valued at USD 121.68 billion. Key Indian exports include engineering goods, rice, textiles, machinery, gems and jewellery. Imports from the bloc are dominated by crude oil, LNG, petrochemicals and gold.

The GCC countries are also a major source of investment for India, with cumulative investments exceeding USD 31.14 billion as of September 2025. The region is also a major source of remittances and is home to nearly 10 million members of the Indian community.

The latest negotiations revive talks that were earlier held in 2006 and 2008, before the GCC deferred discussions on free trade agreements with countries and economic groupings. India has meanwhile implemented a trade pact with the UAE and signed a Comprehensive Economic Partnership Agreement with Oman, even as it continues to push for a broader trade deal with the six-nation GCC bloc.

With PTI Inputs

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