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. During his visit, Additional Secretary, Department of Commerce, Government of India, Ajay Bhadoo also called on Minister in charge of Trade, EEC, Andrei Slepnev. The heads of negotiation groups apprised the Minister about the milestone achieved with the signing of the ToR and discussed next steps to formally launch the negotiation process, including organizational aspects of the future trade deal.

Both sides noted the growing trade turnover between India and the EAEU, which stood at USD 69 bi...