India–EAEU FTA: India opens formal talks with Eurasian bloc today; new trade push gains momentum
India will begin official negotiations for a Free Trade Agreement with the Russia-led Eurasian Economic Union on Wednesday, commerce and industry minister Piyush Goyal announced in New Delhi. He said the talks with the five-nation grouping — Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan — follow the signing of the Terms of Reference on 20 August 2025. “The FTA talks start from tomorrow here,” Goyal said at a press conference on Tuesday.According to news agency ANI, the Terms of Reference outline an 18-month plan aimed at expanding market access for Indian exporters, with a special focus on micro, small and medium enterprises, as well as farmers and fishermen. The initiative comes as India looks to broaden its trade horizons after facing steep tariffs from the United States.Goyal also confirmed that India is exploring several other trade arrangements. Discussions are underway with the Southern African Customs Union — the century-old grouping of South Africa, Namibia, Botswana, Lesotho and Eswatini — for a possible trade pact. India is similarly pursuing the next phase of its preferential trade agreement with Mercosur, covering Brazil, Argentina, Uruguay and Paraguay.The minister added that virtual negotiations with Israel will soon begin for an early harvest agreement. He said India is particularly interested in cooperation in areas such as agricultural technology, innovation, mobility and services. Goyal recently returned from Israel after signing the Terms of Reference for a future FTA.Speaking after the Board of Trade meeting, Goyal said India’s overall export performance remained strong despite global volatility. Preliminary figures show an improvement in merchandise trade over the same period last year, while services exports have grown significantly. “Given the challenging circumstances across the world, India continues to be a shining star,” he said.He highlighted the seafood sector as an example of how Indian exporters have adapted to shifting market conditions. According to ANI, India expanded fish and marine product shipments to Europe after concerns over missing out on a US trade arrangement. The breakthrough came when the EU cleared 102 Indian establishments following prolonged talks linking quality checks to approvals. “We were able to increase our export of fish dramatically to Europe, and therefore our seafood export has also grown in the last three months,” he said.Goyal described the Board of Trade meeting as “highly productive”, noting the optimism of industry participants and the positive response to presentations on export-promotion schemes. He praised exporters for their resilience, saying they “have the ability to face challenges”.
