India's Trade Minister Says Gulf and Israel Trade Deals Will Be Finalized Once Region Stabilizes

According to Donya-e-Eqtesad, India's Minister of Commerce and Industry Piyush Goyal said on Wednesday, September 2, 2026 (11 Shahrivar 1405), at the annual meeting of India's auto parts manufacturers association, that New Delhi will finalize free trade agreements with Israel and Gulf Cooperation Council members, including Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman and Bahrain, as soon as stability returns to the region, as part of its effort to diversify export markets.

Citing Bloomberg, Donya-e-Eqtesad reported that India and Israel had agreed during Prime Minister Narendra Modi's February 2026 visit to Jerusalem to soon complete bilateral trade talks, an agreement reached shortly before the US and Israeli war on Iran began. India, which imports nearly 90 percent of the crude oil it consumes, is highly exposed to the economic fallout of the conflict. Goyal also cited India's trade deal with the United Kingdom, in effect since July, and ongoing talks with the European Union and the United States.