Commerce and Industry Minister Piyush Goyal met with Israeli Prime Minister Benjamin Netanyahu at the end of his three-day visit and conveyed Prime Minister Narendra Modi’s greetings. He shared updates on delegation-level discussions, including conversations with Israel’s Economy Minister, Nir Barkat. Goyal stated that the India-Israel Business Forum and CEOs Forum received significant participation from Indian industry leaders who accompanied him. 

He informed Netanyahu that both sides had signed the Terms of Reference to formally commence Free Trade Agreement negotiations, paving the way for expanded trade, investment, and technology cooperation.

Goyal stated that India and Israel intend to implement the FTA in two phases to maximise its benefits for businesses. He also talked about expanding collaboration by merging Israel’s advanced technology ecosystem with India’s scale and skills. The forum included discussions on strengthening relationships in agriculture, water, defence, science, and innovation.

The Minister praised his visit as highly productive, noting that it was the first time an Indian Commerce Minister had visited Israel in two decades. He expressed confidence that the renewed momentum would promote bilateral trade, improve collaboration in innovation and research, and encourage more investment between the two countries. He stated that both countries want to complete the first phase of the FTA at the earliest.