India, Israel sign Terms of Reference for FTA to boost bilateral ties
This story was originally published at 11:53 IST on 21 November 2025
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NEW DELHI – India and Israel Thursday signed the Terms of Reference for negotiations for a free trade agreement, marking a significant step in strengthening bilateral ties between the two allies. Following the signing of the document, Commerce and Industry Minister Piyush Goyal announced that the two countries have decided to enter into negotiations for a free trade agreement which will open "unlimited possibilities and potential" to expand economic ties.
India and Israel had held the first round of trade agreement negotiations in May 2010. Eight rounds of talks have been held since, with the last round being held 12 years back in November 2013. After the 12-year hiatus, the two countries decided to sign a bilateral investment treaty in September, rekindling their economic partnership. In 2024-25 (Apr-Mar), India exported goods worth $2.15 billion to Israel, while it imported goods worth $1.48 billion.
"Soon after having executed a bilateral investment treaty, collectively the treaty and the free trade agreement will open doors to greater market access, flow of capital, investments and trade, both in goods and services, remove obstacles to doing business, provide clarity, predictability and stability to our economic engagement," Goyal said while speaking at the India-Israel Business Summit in Tel Aviv. End
US$1 = INR 88.64
Reported by Priyasmita Dutta
Edited by Tanima Banerjee
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