India and GCC Sign Joint Statement to Start FTA Talks

26 Feb 2026 CW Team

Officials noted that the statement follows the earlier signing of the terms of reference on 5 February 2026 and represents a significant milestone in bilateral relations. They said the agreement seeks to harness historical linkages and complementarities and to provide predictability and certainty for businesses. The process was described as timely given global uncertainties and the need to bolster trade and investment ties.

Data supplied by officials indicates that the GCC is India’s largest trading partner bloc, with bilateral trade reaching US$ 178.56 billion (bn) in FY 2024-25, of which exports stood at US$ 56.87 billion and imports at US$ 121.68 billion, accounting for 15.42 per cent of India’s global trade. Trade with the bloc has expanded at an annual average growth rate of 15.3 per cent over the last five years. The GCC region is also a major source of foreign direct investment into India, with cumulative investments exceeding US$ 31.14 bn as of September 2025.

Key Indian exports to the GCC include engineering goods, rice, textiles, machinery and gems and jewellery while imports are dominated by crude oil, LNG, petrochemicals and precious metals such as gold. Collectively the GCC represents a market of 61.5 million (mn) people and an economy of US$ 2.3 trillion (tn) at current prices, ranking ninth globally. The region hosts around 10 mn members of the Indian community and a significant presence of Indian companies, factors that are expected to reinforce the impact of a successful free trade agreement.

Senior ministers of India and the Gulf Cooperation Council signed a joint statement launching negotiations on a comprehensive free trade agreement in New Delhi on 24 February 2026. The document was endorsed by the Union Minister of Commerce and Industry and the Secretary General of the Gulf Cooperation Council in the presence of delegations from both sides. The signing formally initiated talks intended to build a broad based and mutually beneficial trading arrangement. Officials noted that the statement follows the earlier signing of the terms of reference on 5 February 2026 and represents a significant milestone in bilateral relations. They said the agreement seeks to harness historical linkages and complementarities and to provide predictability and certainty for businesses. The process was described as timely given global uncertainties and the need to bolster trade and investment ties. Data supplied by officials indicates that the GCC is India’s largest trading partner bloc, with bilateral trade reaching US$ 178.56 billion (bn) in FY 2024-25, of which exports stood at US$ 56.87 billion and imports at US$ 121.68 billion, accounting for 15.42 per cent of India’s global trade. Trade with the bloc has expanded at an annual average growth rate of 15.3 per cent over the last five years. The GCC region is also a major source of foreign direct investment into India, with cumulative investments exceeding US$ 31.14 bn as of September 2025. Key Indian exports to the GCC include engineering goods, rice, textiles, machinery and gems and jewellery while imports are dominated by crude oil, LNG, petrochemicals and precious metals such as gold. Collectively the GCC represents a market of 61.5 million (mn) people and an economy of US$ 2.3 trillion (tn) at current prices, ranking ninth globally. The region hosts around 10 mn members of the Indian community and a significant presence of Indian companies, factors that are expected to reinforce the impact of a successful free trade agreement.

Infrastructure Transport

25 Apr 2026

Sector 51-52 Metro skywalk in Noida remains shut despite being ready for over a year

Thousands of commuters travelling between Delhi Metro Rail Corporation’s (DMRC) Sector 52 station and Noida Metro Rail Corporation’s (NMRC) Sector 51 station continue to face daily inconvenience as the 300-metre air-conditioned skywalk connecting the two stations remains closed, despite being completed over a year ago, according to a report.The Noida Metro Rail Corporation built the foot overbridge to enable a seamless interchange between the Delhi Metro and Noida Metro networks. However, pending finishing work and a structural obstruction have delayed its opening.Krishna Karunesh, Chief E..

Infrastructure Transport

25 Apr 2026

Maharashtra clears Metro Line 5A, expansion of Mumbai Metro Line 5

The Maharashtra government has approved the expansion of Mumbai Metro Line 5 along with a new integrated corridor, Metro Line 5A, forming a combined 34.2-km metro network across the Thane-Bhiwandi-Kalyan-Ulhasnagar belt. The integrated project has been cleared at an estimated cost of ₹18,130.55 crore, according to a government resolution (GR).Metro Line 5 was originally approved in October 2017 as a 24.9-km fully elevated corridor with 17 stations connecting Thane, Bhiwandi and Kalyan, with an initial project cost of ₹8,416.51 crore. The corridor is being developed in two phases.The first ..

Infrastructure Transport

25 Apr 2026

Bengaluru Metro expansion seen driving office demand

Bengaluru’s expanding metro network is expected to emerge as a major catalyst for real estate growth, with the Yellow and Pink Lines likely to boost both office demand and residential prices across key micro-markets, according to a report by Colliers India.The report estimates that over the next two years, Bengaluru could witness an additional 5–7 million sq ft of Grade A office space demand across the Central Business District (CBD), Secondary Business District (SBD) and Electronic City. Improved metro connectivity and reduced commute times are expected to drive higher occupier interest a..