Overview
- Commerce Minister Piyush Goyal and Israel’s Nir Barkat signed the ToR in Tel Aviv on November 20, formally initiating FTA negotiations with dates to be finalised soon.
- The agreed scope spans tariff and non-tariff market access, investment facilitation, customs simplification, services liberalisation, and cooperation on innovation and technology transfer.
- Goyal is leading a 60-member business delegation for a three-day mission featuring the India–Israel Business Summit and the fourth CEOs Forum to deepen commercial ties.
- Promoting India’s “10 Ds,” Goyal urged Israeli companies to invest in infrastructure, manufacturing and AI, as Barkat pointed to opportunities including IMEC and bidding for projects in Israel.
- Context includes a September 2025 Bilateral Investment Agreement that shortened dispute timelines for Israeli investors, a 2024–25 trade dip to $2.14 billion in exports and $1.48 billion in imports, and a new $50 billion metro pre-qualification that Indian firms can pursue.