India and Israel Sign Terms of Reference for Free Trade Agreement Discussions

India and Israel have officially commenced negotiations for a proposed Free Trade Agreement (FTA), following the signing of the Terms of Reference by Union Commerce Minister Piyush Goyal and his Israeli counterpart in Tel Aviv. Minister Goyal described this as the "first step" towards formal discussions, emphasising the strategic importance of strengthening economic engagement between the two nations.

This agreement, alongside a recently executed bilateral investment treaty, is set to significantly boost market access, capital flow, and investments in both goods and services.

Israel's Commerce Minister highlighted the "huge opportunities" inherent in the India-Israel partnership, expressing confidence that the collaboration would yield substantial benefits for both countries. Both sides are committed to working swiftly to realise the potential of this deepening economic relationship.