Commerce minister Piyush Goyal met Israeli PM Benjamin Netanyahu, reviving momentum for an India–Israel free trade agreement. Both sides signed Terms of Reference to launch negotiations, weighing a phased rollout focused on early business deliverables. An innovation partnership combining Israel’s hi‑tech strengths with India’s scale and talent is also on the agenda.
India and Israel have signalled a renewed push towards an FTA after Piyush Goyal’s meetings with PM Netanyahu and senior leaders in Jerusalem, underscoring deeper collaboration in trade, technology, and investments after years of intermittent talks. The engagement also highlighted business forums and CEO dialogues to align industry priorities with policy goals.
Notable updates
• FTA launch steps: Terms of Reference have been signed to formally begin negotiations, targeting tariff/non-tariff barriers, customs simplification, investment facilitation, services, and innovation cooperation.
• Phased approach: A two-stage rollout is being considered to deliver quick wins for businesses while preparing for deeper liberalization in subsequent phases.
• Innovation partnership: Plans to combine Israel’s hi‑tech strengths with India’s scale and talent aim to catalyze joint R&D, tech transfer, and startup collaboration.
• High-level engagement: Meetings spanned political leaders and industry groups, reinforcing confidence and urgency in the economic track.
Major takeaways
• Early deliverables focus: Prioritizing near-term benefits could accelerate trade gains while maintaining room for comprehensive talks.
• Tech-led growth: Innovation collaboration is poised to be the cornerstone of the refreshed bilateral agenda.
• Business alignment: Forum outcomes suggest tighter coordination between government negotiations and market needs.
Sources: The Hindu, Mint, Telegraph India, Republic World