India now sets sights on free trade agreement with Gulf countries

Engagements to begin next month; UAE template to make it easier, say experts

After inking trade pacts with the UAE and Australia, India is set to begin deeper engagements with the Gulf Cooperation Council (GCC) countries as early as May-June to finalise a free trade agreement (FTA) with the group of nations, people aware of the matter said.
 

GCC is a regional, intergovernmental political economic union comprising six countries — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
 

An official said that as of now tariff and trade data has been exchanged with GCC nations to explore the possibility of a trade pact. “India is engaging with GCC nations