New Delhi, Nov. 26, 2025: India will launch formal negotiations for a Free Trade Agreement (FTA) with the Russia-led Eurasian Economic Union on Wednesday.
India’s Commerce and Industry Minister Piyush Goyal announced that the FTA discussions with the five-member EAEU – comprising Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan – will begin in New Delhi following the signing of the Terms of Reference on August 20, 2025.
The Terms of Reference lay out an 18-month roadmap focused on opening new markets for Indian businesses, particularly micro, small and medium enterprises, farmers and fishermen.
In an interaction with reporters on Tuesday, the Commerce and Industry Minister also indicated that India could soon explore a trade agreement with the Southern African Customs Union, signaling a widening of New Delhi’s engagement with major regional blocs.
SACU comprises South Africa, Namibia, Botswana, Lesotho and Eswatini, offering a sizeable market with strong resource-driven economies.
The bloc is also the world’s oldest customs union, established over a century ago, and a pact with it would mark another step in India’s strategy to deepen commercial ties across Africa.
(File Photo: India’s Commerce and Industry Minister Piyush Goyal via PIB)
