Mumbai, Aug. 21 -- India and the Eurasian Economic Union (EAEU) comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and the Russian Federation signed the Terms of Reference (ToR) to launch negotiations on a Free Trade Agreement (FTA) in Moscow. Both sides noted the growing trade turnover between India and the EAEU, which stood at USD 69 billion in 2024, registering a 7 percent increase over 2023. With a combined GDP of USD 6.5 trillion, the proposed FTA is expected to expand market access for Indian exporters, support diversification into new sectors and geographies, enhance competitiveness against non-market economies, and deliver significant benefits to Micro, Small and Medium Enterprises (MSMEs). The ToR provides the framework for...