New Delhi summit boosts India-EAEU FTA negotiations
India and the Eurasian Economic Union are advancing free trade agreement talks. Negotiations picked up momentum last week and will continue in November. This agreement aims to expand market access for Indian exporters significantly. It will also support diversification into new sectors and geographies. The pact is expected to unlock untapped trade potential and boost investments.
Negotiations for a free trade agreement (FTA) between India and the Russia-led Eurasian Economic Union (EAEU) intensified last week during the BRICS and India-Russia Innoprom summits in New Delhi. The next set of talks is slated for November, coinciding with Prime Minister Narendra Modi's upcoming Moscow visit for an annual summit. These discussions will primarily concentrate on market access for both parties, with definitive tariff decisions to be addressed in subsequent rounds.
The proposed FTA aims to grant India access to Eurasia's vast natural resources. Comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, the EAEU boasts a combined GDP of $6.5 trillion. Enhanced market access for Indian exporters, diversification into new sectors and regions, improved competitiveness against non-market economies, and substantial benefits for micro, small, and medium enterprises (MSMEs) are anticipated from the FTA.
The Terms of Reference (ToR) were signed in 2025 to kickstart the negotiations. This framework is expected to unlock untapped trade potential, stimulate investments, and forge a stronger, more resilient India-EAEU partnership. Established by the Treaty on the Eurasian Economic Union, the EAEU facilitates free movement of goods, services, capital, and labor while pursuing harmonized policies in designated sectors and international agreements.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
