India, Eurasia aim to expedite trade pact

India and the Eurasian Economic Union (EAEU) have agreed to meet every quarter at the regulator level to resolve market access hurdles, such as those related to certification and approval delays faced by agricultural and marine exporters, the commerce ministry said on Sunday. The decision was taken at a review meeting in Moscow, chaired by commerce secretary Rajesh Agrawal.

- Dhirendra Kumar [e-mail]

The effort aims to steady market access and speed up talks on their proposed free trade agreement (FTA) as global trade shifts—from new US tariffs to scrutiny of India’s oil imports from Russia—force companies to look for more predictable markets.

Among other issues, the two sides also discussed logistics, payment systems and standards to reduce procedural uncertainties.

The consultations build on earlier discussions in the India-Russia Working Group on Trade and Economic Cooperation and follow the mutual goal of raising bilateral trade to $100 billion by 2030 from $68.7 billion in FY25.