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Headline: India and Israel Consider Phased FTA Implementation to Boost Trade

Jerusalem – India and Israel are exploring a two-phase implementation of their proposed Free Trade Agreement (FTA) to expedite benefits for businesses in both countries, according to Commerce and Industry Minister Piyush Goyal. The announcement comes after the two nations formally launched negotiations for the agreement on November 20, 2025, outlining key areas such as market access, investment facilitation, customs simplification, and cooperation in technology and innovation.

Minister Goyal, currently in Israel leading a 60-member business delegation, stated that he and Israeli Economy and Industry Minister Nir Barkat aim to finalize the initial phase quickly, focusing on readily achievable aspects of the agreement and avoiding contentious issues. The countries are also considering joint research and development projects to leverage respective strengths.

The proposed FTA aims to reverse recent declines in bilateral trade. In 2024-25, Indian exports to Israel fell by 52% to $2.14 billion, while imports dropped by 26.2% to $1.48 billion. Currently, India is Israel’s second-largest trading partner in Asia, with trade primarily centered on diamonds, petroleum products, and chemicals. The FTA is expected to diversify trade into areas like electronic machinery, high-tech products, and medical equipment.

In addition to the FTA, Goyal highlighted a significant opportunity for Indian companies in Israel’s $50 billion Tel Aviv metro project, urging them to participate in the bidding process, noting India’s extensive experience in metro construction.

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