New Delhi: India-EAEU Trade Talks have entered a new phase as India and the Eurasian Economic Union (EAEU) discuss a temporary trade arrangement covering selected goods before signing a full Free Trade Agreement (FTA).
The move is aimed at speeding up trade cooperation while both sides continue negotiations on a broader and more complex trade agreement.
Officials from Russia and the EAEU have confirmed that discussions are progressing, although several issues still need detailed negotiations.
Details of India-EAEU Trade Talks
India and the Eurasian Economic Union are exploring a limited and temporary free trade arrangement that would cover selected product categories.
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Key points:
- The deal would apply only to specific groups of goods.
- It would work as an interim arrangement before a full FTA.
- Both sides are still negotiating the larger trade agreement.
- Discussions are being led through official trade channels between India and EAEU member countries.
India-EAEU Trade Talks: What Did Russia Say?
Russia’s Economic Development Minister Maxim Reshetnikov said negotiations with India are more complex because:
- India’s economy is much larger.
- Trade interests of both sides are diverse.
- India’s demands in the negotiations are ambitious.
According to him, both sides are now discussing a limited and temporary free trade zone covering selected product groups while work on the broader agreement continues.
Putin Highlights Growing Momentum
Russian President Vladimir Putin recently stated that trade liberalisation talks between India and the EAEU have gained momentum.
Speaking during the Supreme Eurasian Economic Council meeting in Astana, Kazakhstan, Putin said:
- The EAEU has expanded trade partnerships with several countries.
- Negotiations with India have intensified.
- The bloc remains open to new free trade agreements with promising partners.
What Is the Eurasian Economic Union (EAEU)?
The Eurasian Economic Union is a regional economic bloc established in 2015.
Member Countries
- Russia
- Belarus
- Kazakhstan
- Kyrgyzstan
- Armenia
The bloc was created to:
- Promote economic integration.
- Reduce trade barriers.
- Develop a common market.
- Improve movement of goods and services among member states.
India-EAEU FTA: Progress So Far
The India-EAEU Free Trade Agreement process has accelerated over the past year.
Major developments include:
August 2025
- India and EAEU signed the Terms of Reference.
- This formally launched FTA negotiations.
November 2025
- The first round of FTA negotiations took place.
- Both sides discussed tariff reductions and market access issues.
2026
- Negotiators began exploring an interim trade arrangement for selected goods.
- Discussions continue on a comprehensive trade agreement.
Why Is the India-EAEU Trade Talks Important?
A temporary trade agreement can help both sides achieve faster economic benefits without waiting for the full FTA to be completed.
Potential advantages include:
- Lower tariffs on selected products.
- Increased exports and imports.
- Stronger supply chain cooperation.
- Better market access for businesses.
- Faster trade growth between India and EAEU countries.
Trade Between India and EAEU
According to official statements released during the launch of negotiations:
- Bilateral trade reached around USD 69 billion in 2024.
- Trade increased by approximately 7 percent year-on-year.
- Both sides see significant potential for future expansion.
India-EAEU Trade Talks: Which Sectors Could Benefit?
Although no final product list has been announced, experts believe the following sectors could benefit from tariff concessions:
- Pharmaceuticals
- Engineering goods
- Chemicals
- Agricultural products
- Textiles
- Machinery
- Processed food products
The final list will be decided during negotiations.
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