Piyush Goyal Engages with Israeli Delegation on FTA Talks
Synopsis
Commerce Minister Piyush Goyal has engaged in significant discussions with a high-level Israeli delegation focusing on the India-Israel Free Trade Agreement, highlighting the strong commitment to enhancing bilateral economic ties.
Key Takeaways
Piyush Goyal discussed the India-Israel Free Trade Agreement with a high-level Israeli delegation.
The talks aim to deepen economic engagement and create new trade opportunities.
Terms of Reference for negotiations were signed in November 2025.
Total trade between India and Israel reached $3.62 billion in FY 2024-2025.
Technical sessions are addressing various aspects of trade and cooperation.
New Delhi, Feb 25 (NationPress) Commerce and Industry Minister Piyush Goyal announced on Wednesday that discussions have taken place regarding the India-Israel Free Trade Agreement with a senior Israeli delegation.
"I had a fruitful dialogue with the Israeli team, underscoring our mutual dedication to enhancing economic collaboration. It's promising to witness both parties closely working together to create new avenues in trade, innovation, and growth, thereby fortifying our esteemed partnership," Goyal mentioned in a post on X.
"As our leaders, Prime Minister Narendra Modi and Prime Minister Netanyahu, convene, their collective vision is progressively coming to fruition, with the Israeli delegation in New Delhi making strides in the negotiations for the India-Israel Free Trade Agreement," he added.
Goyal's remarks followed a statement from Israel’s Minister of Economy and Industry, Nir Barkat, who shared: "A delegation led by the Foreign Trade Administration from the Ministry of Economy and Industry has arrived in India to initiate talks for a Free Trade Agreement between our nations."
"Thanks to the strategic rapport established between our leaders, Prime Ministers Netanyahu and Modi, and the camaraderie I have developed with Piyush, we are on the cusp of a breakthrough that will unveil significant new prospects for our countries and act as a robust growth engine for the economies of both Israel and India."
The Terms of Reference (ToR) for the FTA negotiations were formalized in November 2025, creating a systematic framework for dialogue on specific areas aimed at boosting trade and economic collaboration.
In the fiscal year 2024-2025, the total merchandise trade between India and Israel reached $3.62 billion. The two nations exhibit complementarities across multiple sectors, and the FTA is anticipated to serve as a catalyst for further enhancing bilateral trade by offering certainty and predictability to businesses, including MSMEs.
During this phase, technical specialists from both sides are partaking in sessions that encompass various dimensions of the FTA, including trade in goods, trade in services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures, trade facilitation, and intellectual property rights, among others.
Point of View
The ongoing discussions between India and Israel regarding the Free Trade Agreement signify a pivotal moment in strengthening bilateral ties. With both nations sharing a vision for enhanced economic collaboration, this initiative could potentially unlock new avenues for trade and innovation, positively impacting both economies.
NationPress
9 May 2026
Frequently Asked Questions
What is the purpose of the India-Israel Free Trade Agreement?
The India-Israel Free Trade Agreement aims to enhance trade and economic cooperation between the two nations by creating a structured framework for dialogue and addressing various trade aspects.
Who led the Israeli delegation in the FTA talks?
The Israeli delegation was led by officials from the Foreign Trade Administration at the Ministry of Economy and Industry.
When were the Terms of Reference for the FTA signed?
The Terms of Reference for the FTA negotiations were signed in November 2025.
What was the total merchandise trade between India and Israel in FY 2024-2025?
The total merchandise trade between India and Israel amounted to $3.62 billion in FY 2024-2025.
How will the FTA benefit businesses?
The FTA will provide certainty and predictability for businesses, including MSMEs, helping to enhance bilateral trade.
