14.09.2026 Trade & Markets #EAEU #Russia #Import #Export #Trade agreements
EAEU and India set key free-trade talks round for November 2026
On September 10, 2026, EEC trade minister Andrey Slepnev met India's minister of commerce and industry Piyush Goyal in New Delhi to discuss the status of talks on a free trade agreement between the Eurasian Economic Union and India, and the two sides agreed to accelerate work by their negotiating teams, the Eurasian Economic Commission reported.
What has already been agreed
The two ministers "noted the progress achieved" and instructed their negotiating teams to continue actively coordinating the agreement's main provisions. "Today we managed to move forward and reach agreements on a number of issues. Now our teams face intensive work under the schedule agreed through the end of the year," Slepnev said. The second round of talks took place in June 2026 in Moscow, and the two sides' work schedule has been agreed through the end of the current year (alta.ru).
India's commerce minister Piyush Goyal wrote on X that the meeting covered ways to fast-track the FTA talks, growth in bilateral trade and expanded market access, naming pharmaceuticals, technology and automobiles among priority sectors (IANS).
Why the November round is being called key
Speaking at the "Innoprom. India" exhibition in New Delhi, Slepnev confirmed that the next full-format round of negotiations will take place in November 2026 — ahead of Indian Prime Minister Narendra Modi's visit to Moscow. "This should be the key round of negotiations and will be centered around the key questions of access to each other's markets," he said, as quoted by The Tribune. According to the outlet, the sides have already discussed approaches on goods of mutual interest, but specific tariff decisions are yet to come and remain subject to further rounds.
From the negotiating mandate to the first round
Talks formally began after the Terms of Reference were signed in Moscow in August 2025 (All India Radio). The first round was held in New Delhi on November 26–28, 2025 (The Tribune). According to figures from India's Ministry of Commerce and Industry cited by the same outlet, EAEU-India trade turnover reached $69 billion in 2024, up 7% year on year; in the same report, EEC minister Daniyar Imanaliev points to the potential of the North-South Transport Corridor for trade with India.
What it means for business
The parameters of a future agreement — tariff concessions, product coverage, transition periods — have not been disclosed: as The Tribune notes, specific commitments on goods still need to be worked out. Until the talks conclude, exporters and importers on both sides continue to operate under the EAEU's current Common External Tariff and India's import tariff. The trade growth negotiators are working toward: India's bilateral trade with Russia reached $68.7 billion in 2025 (The Tribune), with both sides targeting $100 billion by 2030 (same source). For companies active in the Indian and Eurasian markets, the practical takeaway is to prepare for potential changes in market-access conditions once the November round concludes — but not before its outcomes are published.
Primary sources
- ЕЭК: Андрей Слепнев обсудил с министром торговли и промышленности Индии ход переговоров по соглашению о ЗСТ
- alta.ru: ЕАЭС и Индия договорились ускорить переговоры по зоне свободной торговли
- The Tribune: India-Eurasian Economic Union FTA talks 'well in progress': EEC Commissioner Slepnev
- IANS: Piyush Goyal, EAEU trade chief discuss fast-tracking FTA talks
- The Tribune: EAEU sees scope to expand trade with India, strengthen transport corridor links: EEC Minister
- All India Radio: India, EAEU sign ToR to begin free trade agreement negotiations
This material is for information only and does not constitute legal advice or customs consulting. Verify changes against the primary sources before acting.