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India and Israel Renew Free Trade Agreement Talks

11/23/2025

50 6 Full Breakdown

Summary

Story summary

Piyush Goyal (Indian Commerce Minister) and Nir Barkat (Israeli Economy Minister) signed the Terms of Reference on November 20, 2025, to renew negotiations for a Free Trade Agreement.
The agreement aims to eliminate tariff and non-tariff barriers, facilitate investment, and promote trade in services.
India is Israel's second-largest trade partner in Asia, with $10.77 billion in 2022-23, and trade has since declined.

History

Historical Context

India and Israel established diplomatic relations in 1992, significantly enhancing their trade dynamics. By 2022-23, bilateral trade reached $10.77 billion, making India Israel's second-largest trade partner in Asia. The recent signing of a Free Trade Agreement's Terms of Reference aims to eliminate trade barriers, potentially revitalizing economic cooperation and addressing declining trade between the two nations.

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Story summary

Piyush Goyal (Indian Commerce Minister) and Nir Barkat (Israeli Economy Minister) signed the Terms of Reference on November 20, 2025, to renew negotiations for a Free Trade Agreement.
The agreement aims to eliminate tariff and non-tariff barriers, facilitate investment, and promote trade in services.
India is Israel's second-largest trade partner in Asia, with $10.77 billion in 2022-23, and trade has since declined.

1 / 2