Current Affairs - National - Discussion

India signed the Terms of Reference with the Eurasian Economic Union (EAEU) to begin negotiations for a Free Trade Agreement. The EAEU comprises Armenia, Belarus, Kazakhstan, Kyrgyz Republic, and Russia. This agreement lays the groundwork for boosting bilateral trade, supporting MSMEs, and diversifying India’s market access in Eurasia. With bilateral trade already reaching USD 69 billion in 2024, the FTA is expected to further accelerate growth across sectors like pharmaceuticals, IT services, textiles, machinery, and agriculture. Strengthening these ties not only enhances India’s trade prospects but also deepens its strategic and economic footprint in the Eurasian region.