Commerce and Industry Minister Piyush Goyal revealed that he engaged in discussions regarding the India-Israel free trade agreement with a high-level Israeli delegation. Goyal expressed satisfaction with the productive interaction, emphasizing the mutual commitment to enhancing economic ties. The ongoing efforts aim to unlock fresh opportunities in trade, innovation, and growth, reinforcing the partnership between the two nations.
The visit of the Israeli delegation to New Delhi signifies progress in the negotiations for the India-Israel Free Trade Agreement. Israel’s Minister of Economy and Industry Nir Barkat confirmed the delegation’s arrival to initiate talks for the free trade pact. The strategic relationship between the leaders of both countries has paved the way for enhanced cooperation, fostering economic growth and new prospects.
The Terms of Reference (ToR) for the FTA discussions were formalized in November 2025, outlining a structured framework for enhancing trade and economic collaboration. With the total merchandise trade between India and Israel amounting to $3.62 billion in FY 2024-2025, the two nations possess synergies across various sectors. The proposed FTA is expected to boost bilateral trade by offering stability and predictability to businesses, including MSMEs.
Technical experts from India and Israel are currently engaged in discussions covering different aspects of the FTA during this round. The topics include trade in goods, services, rules of origin, sanitary and phytosanitary measures, customs procedures, intellectual property rights, among others, aiming to facilitate smoother trade relations.
