India plans to finalise free-trade agreements with the Gulf Cooperation Council
and Israel once the Middle East situation stabilises, Commerce Minister Piyush
Goyal said, aiming to diversify export markets. Goyal said talks with Israel and
the GCC — including major markets Saudi Arabia and the UAE — will be concluded
'after the situation stabilises.' He noted that Modi and Israeli leaders agreed
in February to accelerate negotiations; days later the United States and Israel
launched an attack on Iran that sparked a war and disrupted global supply
chains, he added. New Delhi is pushing to speed up FTAs with other major markets
— a UK trade deal took effect in July and India has reached pacts with the EU,
Oman and New Zealand, while talks with the United States remain protracted.
