India Eyes Strategic Economic Boost with GCC and Qatar FTAs

India is negotiating a Free Trade Agreement with the Gulf Cooperation Council and Qatar, aiming to enhance bilateral ties and cooperation across trade, energy, and security sectors. This move hopes to strengthen India's economic and strategic partnerships, building on deep-rooted relationships and previous agreements.

India is actively negotiating a Free Trade Agreement (FTA) with the Gulf Cooperation Council (GCC) and exploring a similar accord with Qatar. This initiative is intended to amplify bilateral relationships and promote cooperation in fields like trade, energy, and security.

During the state visit of Qatar's Amir, India's Ministry of External Affairs Secretary, Arun Kumar Chatterjee, highlighted the ongoing talks with the GCC and the potential FTA with Qatar. Chatterjee emphasized the enduring and strategic nature of India's ties with regional players, underscoring the significance of oil, gas, and remittances.

India's trade with the GCC is significant, reflecting a partnership valued at over USD 154 billion in FY 2021-22. The recent agreement with Qatar elevating relations to a strategic partnership further cements this alliance. The two sides signed multiple MoUs, focusing on sectors crucial for economic and security benefits.

(With inputs from agencies.)