India, Russia-led trading bloc to launch FTA talks tomorrow in New Delhi

India is set to launch talks for a Free Trade Agreement (FTA) with the Russia-led Eurasian Economic Union (EAEU) in New Delhi tomorrow. On August 20, India and the EAEU signed the Terms of Reference (ToR)

in Moscow to begin negotiations. The EAEU comprises Russia, Kazakhstan, Armenia, Belarus and Kyrgyzstan, with Cuba, Moldova and Uzbekistan holding observer status.

Commerce and Industry Minister Piyush Goyal said discussions are also underway with a South Africa-led trading bloc, along with efforts to expand the Preferential Trade Agreement (PTA) with the Brazil-led MERCOSUR grouping. Noting that merchandise trade has grown year-on-year up to November 1, he said strong export growth is expected in November across seafood, gems and jewellery, and other key sectors. He added that despite US tariffs, seafood exports remained unaffected due to EU approval for 102 Indian marine establishments, which helped boost shipments over the past three months.

Speaking after a meeting with the Board of Trade (BoT), Goyal described Indian businesses and exporters as resilient and willing to take on challenges, noting their positive response to ongoing FTA negotiations with the US, EU, New Zealand, Oman, Chile, Peru and Canada. The Commerce Ministry also said guidelines for the Export Promotion Mission are expected next week, with full rollout targeted by January 15, 2026, to maximise benefits for exporters.