India and Israel have successfully concluded the first round of negotiations for a comprehensive Free Trade Agreement (FTA), marking a significant step toward deepening economic ties between the two nations.

The four-day talks, held in New Delhi from February 23 to 26, follow a powerful call for action from Prime Minister Narendra Modi.

During his recent two-day State Visit to Israel, Prime Minister Modi addressed a Special Plenary of the Knesset in Jerusalem, where he urged for the early finalization of an ambitious trade pact to realize the vast, untapped potential between the two strategic partners.

This inaugural round follows the signing of the Terms of Reference (ToR) in November 2025, which established the framework for these discussions.

Throughout the week, delegations from both countries engaged in constructive dialogue covering a wide array of sectors, including trade in goods and services, rules of origin, digital trade, intellectual property rights, and technical barriers to trade.

Union Minister of Commerce and Industry, Piyush Goyal, met with the visiting Israeli delegation to emphasize the need for a modern and future-ready agreement that unlocks new opportunities in innovation and growth.

According to the Ministry of Commerce and Industry, bilateral merchandise trade stood at approximately USD 3.62 billion in FY 2024-25, leaving significant room for expansion.

Both sides identified machinery, chemicals, textiles, agriculture, and medical devices as key areas for growth. To maintain momentum, the two nations have agreed to continue virtual engagements in the coming weeks, with the next round of in-person negotiations scheduled to take place in Israel in May 2026.

This progress reflects a shared commitment to providing a stable, predictable, and mutually beneficial framework for businesses in both India and Israel.

Source: ANI