India-Israel Free Trade Agreement Terms Finalised: Commerce Minister Hails Huge Opportunities

The Terms of Reference for the Free Trade Agreement (FTA) between India and Israel have been formally approved, marking a significant milestone in bilateral relations. Israels Commerce Minister, Nir Barkat, hailed this development as an "historic day" and a source of "huge opportunities" for both countries.

In a recent interview, Minister Barkat underscored the deep understanding cultivated through reciprocal high-level missions, including his visit to India in February and Indian Commerce Minister Piyush Goyal's subsequent visit to Israel. This collaboration has fostered a shared vision for a mutually beneficial partnership.

Barkat expressed extreme optimism, stating a commitment to swift action rather than merely waiting for the formal deal. He highlighted the robust friendship extending beyond political leaders to the people of both nations, noting shared concerns, rich cultures, and consistent values.

The Minister also pointed to future-oriented collaborations, specifically mentioning Artificial Intelligence, indicating that teams are already working together with clear understanding and trust, irrespective of the FTA's timeline. This proactive approach aims to ensure a "big win" for both India and Israel.