India and the Gulf Cooperation Council (GCC) have signed the Terms of Reference for a Free Trade Agreement:
Gulf Cooperation Council is a regional political and economic alliance established in 1981.It comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).Objective is to foster economic, security, cultural, and social cooperation among its members.Headquarters: Riyadh, Saudi Arabia.Key exports from India to GCC include engineering goods, rice, textiles, machinery, gems and jewelry.Key sectors of imports from GCC primarily comprise crude oil, LNG, petrochemicals, and precious metals such as gold.
