UAE already has an FTA with India which came into force on May 1, 2022. It is the second largest export market for India and fourth in the list of countries where imports come from.

• Gulf Cooperation Council (GCC) members have approached India to restart negotiations on the free trade agreement.
• India had GCC had agreed to explore an FTA in 2004 but after two rounds of discussions in 2006 and 2008, the process was abandoned.
• The council is the largest trading bloc of India.

ABOUT GULF COOPERATION COUNCIL

• GCC is a political and economic union of six countries in the Gulf region — Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain.
• Established in 1981 in Riyadh (Saudi Arabia), the GCC promotes economic, security, cultural and social cooperation between the six states.
• HQ- Riyadh
• Official language- Arabic.
• It holds a summit every year to discuss cooperation and regional affairs.
• The GCC consists of the Supreme Council, the Ministerial Council and the Secretariat General.