India Begins FTA Talks with Eurasian Bloc to Boost Export Opportunities
- India starts formal FTA negotiations with the Eurasian Economic Union
- Talks aim to expand market access for MSMEs, farmers, and fishermen
- Move comes as India seeks new trade avenues after recent U.S. tariff challenges
India will begin official negotiations for a Free Trade Agreement (FTA) with the Russia-led Eurasian Economic Union (EAEU) on Wednesday, Commerce and Industry Minister Piyush Goyal announced in New Delhi. The five-nation bloc includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. The talks follow the signing of the Terms of Reference (ToR) on August 20, 2025.
Speaking at a press conference, Goyal said the 18 month negotiation roadmap aims to create wider market access for Indian exporters, particularly micro, small and medium enterprises, along with farmers and fishermen. The initiative comes at a crucial time as India looks to diversify its trade partnerships after facing steep U.S. tariffs earlier this year.
Goyal added that India is also exploring several other trade arrangements. Discussions are ongoing with the Southern African Customs Union, which includes South Africa, Namibia, Botswana, Lesotho, and Eswatini, regarding a potential trade pact. India is similarly working on the next phase of its preferential agreement with Mercosur, covering Brazil, Argentina, Uruguay, and Paraguay.
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Virtual negotiations with Israel will begin soon for an early harvest agreement. Goyal said India is particularly interested in collaboration in agriculture technology, innovation, mobility, and services. The minister recently visited Israel to sign the ToR for a future FTA.
Despite global economic challenges, Goyal said India’s export performance remains strong. Preliminary data shows improved merchandise trade and significant growth in services exports. He also highlighted the seafood sector, noting that exports to Europe surged after the EU approved 102 Indian facilities for marine product shipments.
