India and the Eurasian Economic Union are preparing for the next round of negotiations on a proposed free trade agreement, as New Delhi looks to expand exports and strengthen access to markets across the Eurasian region.
Highlights
- India and EAEU are negotiating a proposed Free Trade Agreement.
- The next round of talks is expected in November.
- Negotiations will focus on market access and untapped trade potential.
- India and EAEU signed the Terms of Reference for FTA negotiations in 2025.
New Delhi: India is stepping up negotiations for a proposed Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), as New Delhi looks to expand its presence across Eurasian markets and unlock new opportunities for Indian exporters.
According to the report, the next round of negotiations is expected to be held in November, ahead of Prime Minister Narendra Modi’s Moscow visit for the annual summit.
The proposed agreement could strengthen India’s trade ties with the five-member EAEU comprising Russia, Armenia, Belarus, Kazakhstan and the Kyrgyz Republic.
Negotiations are expected to focus on market access and untapped trade potential. India and the EAEU had signed the Terms of Reference (ToR) to launch negotiations on an FTA in 2025, laying the groundwork for discussions on the proposed trade pact.
India Eyes New Export Opportunities
A major objective of the proposed agreement is expected to be expanding India’s exports and diversifying its trade across both sectors and geographies.
India is looking to improve market access for a range of products and reduce barriers faced by exporters. An FTA could also create opportunities for micro, small and medium enterprises (MSMEs) by providing a more predictable framework for doing business in EAEU markets.
The agreement could help unlock untapped trade potential and create a stronger and more durable India-EAEU economic partnership.
The negotiations come at a time when India is pursuing multiple trade agreements as part of a broader strategy to diversify export destinations and strengthen its integration with global markets.
Russia Remains Key Partner
Russia’s presence in the EAEU makes the proposed agreement particularly significant for India. Trade between India and Russia has expanded substantially in recent years, although the relationship remains heavily influenced by energy imports.
A wider trade framework with the EAEU could help India expand exports of goods and services and make the economic relationship more diversified.
The next round of talks will therefore be closely watched for progress on tariff concessions, market access and other trade-related issues as both sides work towards a broader economic partnership.
