more-inIndia is set to formalise a free trade agreement with the Eurasian Economic Union, clearing the decks for negotiations on deepening trade relations with the five former Soviet republics. The FTA is expected to open up a huge market with a trade potential of $37 to 62 billion. Trade between India and the five Eurasian countries stands at about $11 billion. “The FTA with the Eurasian countries was dictated by India’s need to diversify into new markets. We have a targeted trade of $30 billion with the five countries by 2025 and $15 billion annual investment,” Mr. Kumar said.

Source: The Hindu April 28, 2017 15:45 UTC