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India and Qatar are moving closer to concluding negotiations for a Free Trade Agreement (FTA), with the Terms of Reference (ToR) expected to be finalised early next month, government sources told CNBC-TV18. If concluded on
time, Commerce and Industry Minister Piyush Goyal may travel to Doha in the first week of October to accelerate the process.
Qatar is part of the six-member Gulf Cooperation Council (GCC), with which India is already pursuing an FTA. Meanwhile, India has signed a pact with the UAE, and is close to finalising one with Oman, the sources said.
Furthermore, Bahrain has expressed interest in a deal with the Asian country, while Saudi Arabia and Kuwait, along with the other two GCC members, are also in discussions with New Delhi on
trade and investment frameworks.
The move comes against the backdrop of the US imposing 50% tariffs on several labour-intensive Indian exports. To cushion the impact, India is seeking to diversify its export markets, particularly in West Asia and Europe. While the India–Oman FTA is undergoing legal vetting after Arabic translation, a separate Bilateral Investment Treaty (BIT) is under negotiation with Saudi Arabia, the source said.
Also read: India looks to fast-track FTA talks to diversify exports,
says Piyush Goyal
Trade with the GCC remains significant for India. Exports to the bloc in April–June 2025 stood at $13.61 billion, down 4.5% year-on-year, while imports rose 11% to $30.6 billion in the same period.
Last week, India's Commerce and Industry Minister Piyush Goyal highlighted “Our missions are working in 50 countries, which we have identified through data analytics and artificial intelligence … where our products that need a market can be offered, and in lieu of that, what we can buy from those countries who may also be stressed.”
Separately, India and Israel are expected to sign a Bilateral Investment Treaty (BIT) during the upcoming visit of Israel's Finance Minister Bezalel Smotrich this week, which would prepare a common ground for an FTA to boost trade between the two countries, PTI reported, citing sources.
Also read: ‘Natural for us to reset ties’ with China after Galwan: Piyush Goyal
Qatar is part of the six-member Gulf Cooperation Council (GCC), with which India is already pursuing an FTA. Meanwhile, India has signed a pact with the UAE, and is close to finalising one with Oman, the sources said.
Furthermore, Bahrain has expressed interest in a deal with the Asian country, while Saudi Arabia and Kuwait, along with the other two GCC members, are also in discussions with New Delhi on
The move comes against the backdrop of the US imposing 50% tariffs on several labour-intensive Indian exports. To cushion the impact, India is seeking to diversify its export markets, particularly in West Asia and Europe. While the India–Oman FTA is undergoing legal vetting after Arabic translation, a separate Bilateral Investment Treaty (BIT) is under negotiation with Saudi Arabia, the source said.
Also read: India looks to fast-track FTA talks to diversify exports,
Trade with the GCC remains significant for India. Exports to the bloc in April–June 2025 stood at $13.61 billion, down 4.5% year-on-year, while imports rose 11% to $30.6 billion in the same period.
Last week, India's Commerce and Industry Minister Piyush Goyal highlighted “Our missions are working in 50 countries, which we have identified through data analytics and artificial intelligence … where our products that need a market can be offered, and in lieu of that, what we can buy from those countries who may also be stressed.”
Separately, India and Israel are expected to sign a Bilateral Investment Treaty (BIT) during the upcoming visit of Israel's Finance Minister Bezalel Smotrich this week, which would prepare a common ground for an FTA to boost trade between the two countries, PTI reported, citing sources.
Also read: ‘Natural for us to reset ties’ with China after Galwan: Piyush Goyal
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