India and Israel signalled a fresh push in their economic relationship on Sunday as commerce and industry minister Piyush Goyal met Israel Prime Minister Benjamin Netanyahu and President Isaac Herzog in Jerusalem. The discussions highlighted collaboration in trade, technology and investments at a time when both countries are preparing for the first formal steps towards negotiations for a long pending free trade agreement.
Netanyahu said the partnership is moving into a deeper phase focused on investment, innovation and connectivity. He wrote on X that “Israel and India are strengthening our strategic partnership, more investments, more innovation, and a strong economic corridor from India through Israel to Europe. Together we are building economic power.”
Goyal also met President Herzog and described the conversation as covering the entire scope of the strategic partnership, including trade, science and technology, innovation and broader economic engagement.
Both sides welcomed the positive outcomes of the business forum and the CEOs forum and confirmed that they had taken the first major step towards opening FTA negotiations. Goyal shared that India’s strong growth and widening business opportunities were highlighted for Israeli partners. On 20 November, the two governments signed the terms of reference for the FTA. During the signing, Goyal and Israel’s minister of economy and industry Nir Barka expressed confidence that negotiations would move forward constructively toward a balanced agreement. Goyal travelled with a delegation of sixty members supported by industry bodies.
The renewed momentum follows several rounds of recent economic dialogues and marks a political intent to advance the FTA process. The timing is important as bilateral trade has declined sharply over the past year. India’s exports to Israel dropped from 4.52 billion dollars in FY24 to 2.14 billion dollars in FY25, while imports fell from 2 billion dollars to 1.48 billion dollars. India is working to diversify its export markets and lower its dependence on the United States.
Experts believe an India Israel FTA could create new opportunities in cybersecurity, agriculture technology, clean energy, food processing, water management and digital services. Binod Anand said agriculture has long been a natural area of cooperation and that the renewed push could strengthen this partnership. He noted that Israel’s capabilities in precision farming and efficient water use fit well with India’s needs. He added that a stronger trade framework can support technology transfer, lower equipment costs and create opportunities for joint innovation across farming and post harvest systems.
India and Israel have been discussing an FTA since 2010, but talks stalled after the eighth round in 2013 due to differences on pharmaceuticals, tariff cuts on plastics and chemicals, rules of origin and mobility of services. The new political engagement in Jerusalem is seen as an effort to revive the process. While both sides appear ready to return to structured negotiations, no formal timeline has been shared yet.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
