India and the Gulf Cooperation Council sign Terms of Reference for a free trade agreement
India and the Gulf Cooperation Council (GCC) signed the Terms of Reference for an India–GCC Free Trade Agreement at Vanijya Bhawan, New Delhi, on 5 February 2026.
Summary
India and the Gulf Cooperation Council (GCC) signed the Terms of Reference (ToR) for an India–GCC Free Trade Agreement at Vanijya Bhawan, New Delhi, on 5 February 2026. The ToR were signed by Ajay Bhadoo, Additional Secretary and Chief Negotiator in the Department of Commerce, and Dr Raja Al Marzouqi, Chief Negotiator of the GCC Secretariat General, in the presence of Commerce Minister Piyush Goyal. The ToR define the scope and modalities of the negotiations. The Commerce Ministry said the GCC countries together have 61.5 million people (2024) and a GDP of US$ 2.3 trillion, ninth in the world, and are home to nearly ten million members of the Indian community.
Key facts
- Signed
- 5 February 2026, Vanijya Bhawan, New Delhi
- Signatories
- Ajay Bhadoo (India's Chief Negotiator); Dr Raja Al Marzouqi (GCC Chief Negotiator)
- Purpose
- Defines scope and modalities of FTA negotiations
- GCC market
- 61.5 million people (2024); GDP US$ 2.3 trillion, 9th globally
- Indian community
- Nearly 10 million
Practice MCQs 2 questions
Where were the Terms of Reference for the India–GCC Free Trade Agreement signed on 5 February 2026?
Show answer
Correct answer: B — Vanijya Bhawan, New Delhi
The ToR were signed at Vanijya Bhawan, New Delhi, in the presence of Commerce Minister Piyush Goyal.
According to the Commerce Ministry, the combined GDP of the GCC countries (about US$ 2.3 trillion) ranks where globally?
Show answer
Correct answer: C — 9th
The ministry said the GCC's US$ 2.3 trillion GDP at current prices ranks 9th globally.