India is ramping up efforts to advance trade negotiations with multiple countries and economic blocs in 2025. Discussions are underway to finalize the Terms of Reference (TOR) for a potential Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), which includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Observer nations include Cuba, Moldova, and Uzbekistan. Chief negotiators from both sides held a virtual meeting on 9 January 2025.

The significance of this FTA is heightened by India’s reliance on petroleum imports from Russia, a trade disrupted by recent U.S. sanctions. In the fiscal year ending March 2024, Russia emerged as India’s top trading partner within the bloc, with India exporting $4.26 billion worth of goods and services while importing $61.43 billion.

India is also preparing to resume FTA talks with the United Kingdom in early February. These negotiations, which began in January 2022 and spanned 14 rounds, were paused in March 2024 due to elections in both nations.

Additionally, the 10th round of FTA negotiations with the European Union is scheduled for March 10–14 in Brussels. Key discussions will focus on an investment protection agreement and geographical indications (GIs). 

The previous round tackled issues such as trade in goods and services, investment, government procurement, rules of origin, sanitary and phytosanitary (SPS) measures, and technical trade barriers. In 2023, India exported $75.18 billion in goods and $31.13 billion in services to the EU, with imports totalling $63.44 billion.

Lastly, the next round of discussions for revising the existing FTA between India and ASEAN countries is set for 10 February in Indonesia.

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