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India, Israel sign ToR to begin FTA negotiations

India and Israel have formally signed the Terms of Reference (ToR) to initiate negotiations for a Free Trade Agreement (FTA), marking a major step toward deepening bilateral economic cooperation. The ToR was signed in Tel Aviv by India’s Minister of Commerce and Industry Piyush Goyal and Israel’s Minister of Economy and Industry Nir Barkat on Thursday. The signing sets the framework that will guide structured negotiations between the two nations. Goyal said, this is the first crucial step towards facilitating talks to conclude a balanced, comprehensive, and mutually beneficial FTA to strengthen and enhance our trade, economic, and strategic partnership.Goyal confirmed that both countries have agreed to commence negotiations for a comprehensive FTA and emphasised that the proposed agreement would substantially enhance bilateral economic engagement.

Israel’s Minister of Economy and Industry Nir Barkat said, Israel's innovation and India's scale make for a great combination.

Once negotiations begin, both sides are expected to identify areas of convergence and explore new sectors that can accelerate investment flows, technology partnership, manufacturing linkages and services-based trade.

 


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