India and Israel are considering implementing the proposed Free Trade Agreement (FTA) in two phases to deliver early gains to businesses, Union Commerce and Industry Minister Piyush Goyal said on Sunday.
“We are considering doing this in two tranches. A decision will be taken when the talks begin. Both Ministers are keen to finalise the first phase early so that the trade community benefits sooner,” Goyal was quoted as saying by Indian news agency PTI.
A key milestone during Goyal’s visit to Israel was the signing of the Terms of Reference for the India–Israel Free Trade Agreement (FTA).
During his visit, Goyal met Israeli Minister of Agriculture and Food Security Avi Dichter on November 21 to discuss advancing agricultural collaboration.
Dichter briefed Goyal on Israel’s 25-year food-security roadmap, seed-improvement strategies, and leadership in water-reuse technologies.
Goyal visited the Peres Center for Peace and Innovation, where he observed Israel’s technological ecosystem, including drip irrigation systems, stent technologies, the Iron Dome system, and emerging virtual-reality solutions.
He described the Center as an “inspiring institution reflecting Israel’s journey of creativity, innovation and social impact.”
He also witnessed Israel’s autonomous mobility solutions in a demonstration by Mobileye and visited Kibbutz Ramat Rachel, gaining insights into cooperative living, sustainable agriculture, and community-driven innovation.
On November 20, Goyal met Israel’s Minister of Economy, Nir Barkat, to review bilateral trade and explore new areas of cooperation.
Both Ministers participated in the India–Israel Business Forum, which included technical sessions and B2B interactions, highlighting private-sector interest in fintech, agritech, AI, quantum computing, machine learning, pharmaceuticals, space and defence.
Goyal also held a bilateral meeting with Israel’s Minister of Finance, Bezalel Smotrich, focusing on investment linkages, financial technologies, and regulatory cooperation to facilitate economic exchanges.
