India-EAEU FTA Talks Accelerate: 18-Month Roadmap Set to Reach $100 Billion Trade by 2030
SDG 9: Industry, Innovation, and Infrastructure | SDG 17: Partnerships for the Goals
Institutions: Ministry of Commerce & Industry
The Commerce Secretary, Shri Rajesh Agrawal, concluded a series of high-level meetings in Moscow to review the progress of the proposed India–Eurasian Economic Union (EAEU) Free Trade Agreement (FTA) negotiations. The EAEU comprises Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, and the Russian Federation. The discussions reaffirmed the Leaders’ shared target of reaching US$100 billion in bilateral trade by 2030.
The official Terms of Reference (ToR) for the FTA were signed on August 20, 2025, outlining an 18-month work plan aimed at diversifying markets for Indian businesses, including MSMEs, farmers, and fishermen.
Strategic Focus and Regulatory Alignment
The dialogue centered on the strategic components necessary for a resilient and diversified partnership:
Trade Diversification: Discussions focused on expanding Indian exports through time-bound pathways across key sectors such as pharmaceuticals, telecom equipment, machinery, leather, automobiles, and chemicals. The talks also covered cooperation in critical minerals.
Regulatory Predictability: To address non-tariff barriers, both sides agreed to establish quarterly regulator-to-regulator engagement. This mechanism will resolve issues related to certification requirements, agricultural and marine business listings, non-tariff barriers, and the prevention of monopolistic practices.
Digital and Logistics Integration: Practical measures covering logistics, payments, and standards were discussed to improve predictability and ease of doing business. The Commerce Secretary highlighted India’s logistics upgrades and digital public infrastructure.
The 18-month work plan, formalized by the Terms of Reference signed in August 2025, sets the concrete timeline and procedural framework for the negotiations. This commitment signals the intent to move quickly to finalize agreements on trade in goods and subsequently examine services and investment tracks, which is a crucial step in transforming the partnership from primarily hydrocarbon-dependent trade to a diversified, long-term strategic economic alliance.
The acceleration of the India-EAEU FTA is a critical step in India’s strategy to diversify its export markets and de-risk supply chains, especially amid rising global trade protectionism. The specific focus on a quarterly regulator-to-regulator mechanism is vital for Indian exporters (particularly in pharmaceuticals and agriculture) whose market access is often hindered by non-tariff barriers rather than tariffs. This success aligns with India’s overarching goal of becoming a developed nation, Viksit Bharat, by 2047.
Relevant Question for Policy Stakeholders: What institutional changes should the Ministry of Commerce & Industry implement to ensure the new quarterly regulator-to-regulator mechanism effectively resolves EAEU non-tariff barriers within the 18-month negotiation window?
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