New chapter for India and Israel! ToR signed for deeper economic partnership; free trade agreements next
At the event, Goyal confirmed that the two governments had agreed to begin work on a comprehensive FTA, a move aimed at reshaping bilateral trade and investment.
He said the planned agreement was expected to broaden market access and support greater capital flows, covering both goods and services. Goyal stressed that the proposed deal would ease barriers, improve the business environment and bring “clarity, predictability and stability to our economic engagement.” He described India and Israel as strategic partners with long-established ties, noting that the two nations were “destined to bigger achievements and greater friendship.” Highlighting the lack of direct competition between the two economies, Goyal said, “We are two countries which really don’t compete with each other, which open the doors to products, goods, services and investments, where we act as a force multiplier for both countries, and we are ambitious to finalize a win, win, fair, equitable and balanced free trade agreement between our two democracies.” He also pointed to India’s expanding strength in innovation, supported by a strong intellectual property regime and the country’s position as the world’s third-largest startup ecosystem.
Goyal drew attention to India’s growing capabilities in deep-tech areas such as artificial intelligence, quantum computing and machine learning, alongside the rapid expansion of national data infrastructure. With negotiations now set to begin, both governments expect the FTA process to enhance collaboration across technology, innovation and trade, adding new momentum to the India–Israel strategic partnership.
