NEW DELHI, December 5. /TASS/. The free trade area negotiations that have started between the Eurasian Economic Union (EAEU) and India, will open up new opportunities, India's Commerce Minister Piyush Goyal said at the Russian-Indian business forum attended by Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.

"The launch of negotiations on a free trade zone between the EAEU and India will further balance trade, strengthen the role of small and medium-sized enterprises, and open up new opportunities in various sectors," he said and named manufacturing, agriculture, electronics, textiles, and pharmaceuticals among promising areas.

At the 22nd Russia-India summit, which took place in Moscow on July 8-9, 2024, during Indian Prime Minister Narendra Modi's visit to Russia, a joint statement was signed. It announced, among other things, the fact that Moscow and New Delhi had agreed to explore the creation of an EAEU-India free trade zone.