In a bid to protect their economic interests amid regional turmoil, Commerce and Industry Minister Piyush Goyal has held virtual talks with Saudi Arabia's Trade Minister Majid bin Abdullah Al Qassabi, on ways to strengthen supply chains disrupted due to ongoing West Asia conflict, after holding talks with his counterparts from the UAE, Bahrain and Kuwait. All these countries are members of the Gulf Cooperation Council (GCC) with which India is negotiating a free trade agreement (FTA). 

The two sides reaffirmed their commitment to strengthening bilateral trade and expressed optimism for early progress in the India-GCC FTA negotiations. Both leaders noted that the strain conflict has put on regional supply chains and stressed the need for an early recovery through coordinated efforts to ensure smooth trade flows. Goyal expressed optimism that the recently announced ceasefire would pave the way to lasting peace and security in the region. The meeting underscored the shared commitment to further deepening the India-Saudi Arabia economic partnership.  

Meanwhile, the joint US-Israel attacks on Iran have caused severe disruptions in the movement of ships in international waters, particularly to the West Asian nations. The conflict has posed challenges for exporters to ship goods to the Gulf region, with which India had a bilateral trade of $178 billion in 2024-25 ($56.87 billion exports and $121.67 billion imports). The major sectors which are under stress due to the West Asia crisis include petroleum products, chemicals and plastics, engineering goods, rice, pharma and gems and jewellery. The six countries in this region are the UAE, Saudi Arabia, Oman, Bahrain, Qatar and Kuwait.