India and Israel on Tuesday launched the first round of negotiations for a proposed Free Trade Agreement (FTA), marking a significant step towards deepening their economic partnership ahead of Prime Minister Narendra Modi’s visit to the West Asian nation.
Union Commerce and Industry Minister Piyush Goyal met an Israeli delegation visiting India for the negotiations and described the discussions as an important milestone in enhancing bilateral economic ties. In a post on X, Goyal said the negotiations in New Delhi were aimed at creating greater opportunities for businesses and people in both countries.
“The FTA negotiations mark an important step towards enhancing India-Israel bilateral trade & economic cooperation, aimed at creating greater opportunities for businesses and people on both sides,” he said.
Trade and technical experts from both countries are holding detailed sessions covering a wide range of issues, including trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures and trade facilitation, and intellectual property rights, according to sources.
Prime Minister Narendra Modi is set to arrive in Israel later today for a two-day visit, during which he will hold bilateral talks with his Israeli counterpart Benjamin Netanyahu on a wide range of issues. Defence and security cooperation are expected to feature high on the agenda, along with discussions on trade, agriculture, and collaboration in science and technology.
During the meeting, Israel’s Chief Negotiator, Yifat Alon Perel, said the two countries shared a close relationship and that the FTA had the potential to strengthen supply chains, enhance cooperation and open new markets. On the Indian side, Chief Negotiator Ajay Bhadoo, Additional Secretary in the Department of Commerce, also stressed the importance of working towards a balanced agreement that would create a forward-looking framework for an evolving partnership, news agency ANI reported.