India and EAEU: Paving the Path to a Historic Free Trade Agreement

India and the Eurasian Economic Commission are moving forward with negotiations for a free trade agreement aimed at strengthening economic ties. Commerce Secretary Rajesh Agrawal met with Russian counterparts to discuss pathways for trade diversification, supply-chain resilience, and bilateral trade targets, focusing on industries like pharmaceuticals and technology.

India and the Eurasian Economic Commission have taken significant steps toward finalizing a free trade agreement, aimed at increasing economic cooperation. The Commerce Ministry confirmed the developments in an official statement released Sunday.

In an important meeting held recently, India's Commerce Secretary Rajesh Agrawal traveled to Moscow to engage in productive talks with Andrey Slepnev, Minister in charge of Trade for the Eurasian Economic Commission, and Russian Deputy Minister of Industry and Trade, Mikhail Yurin.

The discussions focused on enhancing bilateral trade to USD 100 billion by 2030 and exploring avenues for trade diversification in sectors such as pharmaceuticals and telecom. A synchronized effort to address non-tariff issues and improve logistics is underway, fortifying India's trade relationships in the Eurasian region.

(With inputs from agencies.)