India and Eurasian Economic Union sign Terms of Reference to launch FTA negotiations

India and the Eurasian Economic Union (EAEU) have signed Terms of Reference (ToR) to launch Free Trade Agreement (FTA) negotiations. Shri Ajay Bhadoo and Mr. Mikhail Cherekaev led the discussions, joined by Mr. Andrei Slepnev, outlining next steps and organizational aspects. Bilateral trade hit USD 69 billion in 2024, up 7%. With a combined GDP of USD 6.5 trillion, the FTA is expected to expand market access, boost MSMEs, and deepen economic ties.