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India to Finalize FTA Talks with Israel and GCC Once Middle East Tensions Ease
yonhap_finance · 2026-09-03
India's Commerce Minister Piyush Goyal announced that the nation plans to conclude trade deals with Israel and the GCC as soon as regional stability returns.
What Happened
Middle East Stability and Trade: Indian Commerce Minister Piyush Goyal stated that the government intends to finalize Free Trade Agreement (FTA) negotiations with Israel and the Gulf Cooperation Council (GCC) once the situation in the Middle East stabilizes. This move is part of India's broader strategy to diversify its export markets and overcome delays caused by regional conflicts.
Negotiation Status: While India and Israel reached an agreement to expedite FTA talks earlier this year, the outbreak of war stalled progress. Similarly, negotiations with the GCC, which were revived recently after a 17-year hiatus, remain a key priority for the Modi administration as it seeks to strengthen economic ties with the six-nation bloc.
Supply Chain Resilience: Beyond regional trade deals, India is actively pursuing agreements to secure critical minerals and ensure resilient supply chains. The government is engaging in talks with nations like Zambia and is deepening its partnership with the U.S. to mitigate risks associated with trade weaponization by other powers.
U.S.-India Strategic Alignment: The U.S. has invited India to join the 'Pax Silica' initiative, an AI supply chain coalition aimed at countering Chinese influence. This collaboration underscores the growing trust between Washington and New Delhi, focusing on building a secure and democratic framework for global trade and technological cooperation.