Trade Deal
India, Eurasian Union to hold next round of FTA talks in Feb, says trade min
This story was originally published at 17:03 IST on 15 December 2025
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--Govt: India, Eurasian Union to hold next round of FTA talks in Feb
--Govt: Next round of comprehensive econ pact talks with Australia in Jan
--Trade secy: India-Oman trade deal talks concluded, hope to sign very soon
NEW DELHI – India and the Eurasian Economic Union will hold the next round of free trade agreement talks in February, the commerce ministry said Monday. Russia is India's largest trading partner in the Eurasian Economic Union, which also includes Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
The proposed free trade agreement is expected to expand market access for Indian exporters, support diversification into new sectors and geographies, enhance competitiveness against non-market economies, and deliver significant benefits to micro, small and medium enterprises. India had a total trade of $69 billion with the region in 2024, according to a release by the commerce ministry.
Earlier this month, Russia President Vladimir Putin had expressed support to India in taking forward the free trade agreement during his official visit to India. The two sides had initially agreed to explore a trade deal in 2021, but the discussions stalled as Russia's priorities shifted after the Ukraine war. The deal was back on the table after Prime Minister Narendra Modi's visit to Moscow in 2024.
India will also hold the next round of talks for a Comprehensive Economic Cooperation Agreement with Australia in January, the commerce ministry said Monday. The Comprehensive Economic Cooperation Agreement is an extension of the Economic Cooperation Trade Agreement that India and Australia signed in 2022. The two sides aim to explore 14 new areas under the new agreement.
The trade ministry started negotiations for the Comprehensive Economic Cooperation Agreement with Australia in February 2023. Australia is among the top 15 trading partners of India, with total trade of $24.11 billion in 2024-25 (Apr-Mar).
India and Oman have also concluded negotiations for a trade pact and will hopefully sign the deal soon, Commerce Secretary Rajesh Agrawal said. The ministry has been saying for a while that the two sides will "soon" sign the deal. This time, the signing of a deal looks imminent with Prime Minister Modi embarking on a three-nation visit to Jordan, Ethiopia, and Oman on Monday, aimed at strengthening India's bilateral engagement with key partners in West Asia and Africa. India started negotiations for a free trade agreement with Oman in 2023.
After the United Arab Emirates, Oman would be the second country from the Gulf Cooperation Council to have a free trade agreement with India. Oman had a total trade of $10.96 billion with India in FY25, which included Indian exports worth $4.41 billion. End
US$1 = INR 90.73
Reported by Priyasmita Dutta and Krity Ambey
Edited by Ashish Shirke
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