India-Israel FTA Set To Move Faster, First Tranche Can Be Expedited: Piyush Goyal
Speaking after three days of engagements with Israeli leadership, industry, and technology firms, Goyal said both sides had demonstrated "clear intent" to deepen strategic and economic ties.
India and Israel are set to accelerate talks on their long-pending Free Trade Agreement (FTA), with Commerce and Industry Minister Piyush Goyal signalling that the first tranche of the deal can be fast-tracked following his high-level meetings in Tel Aviv.
Speaking after three days of engagements with Israeli leadership, industry, and technology firms, Goyal said both sides had demonstrated "clear intent" to deepen strategic and economic ties.
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Goyal confirmed that terms of reference for the FTA were formally signed during the visit, marking a key step toward structured negotiations.
He added that the FTA would be finalised in tranches, with the initial tranche being prioritised for early conclusion, given the strong convergence between the two economies. "We will work towards a robust and mutually beneficial FTA in the near future," he said.
The minister also indicated progress on a joint protocol for import and export, which is under discussion and expected to help streamline trade facilitation between the countries.
Goyal held extensive talks with Israel’s Minister of Economy and Industry Nir Barkat, as well as senior finance and trade leaders. The discussions covered trade expansion, agritech cooperation, workforce mobility, and investment flows.
"There is enormous interest in expanding bilateral trade and exchanging technology and agritech solutions," he noted, adding that Israel was keen to engage with Indian skilled professionals, especially in tech and industrial sectors.
A major highlight of the visit was Israel’s strong push for Indian companies to bid for the $50 billion Tel Aviv Metro project, which includes nearly 300 km of underground tunnelling.
Goyal said several Indian public and private infrastructure firms have the capabilities to participate and that India’s inclusion could generate significant employment back home. "Israel expressed a deep desire for Indian contractors to be part of the tendering process," he said.
Goyal also met several Israeli technology companies, emphasising how both nations can turn common challenges into shared opportunities. With political will visibly strong on both sides, Goyal said the visit had set the stage for an "accelerated, confident pathway" toward an India–Israel FTA.
