New Delhi

India and Israel on Thursday concluded the first round of negotiations for the proposed India-Israel Free Trade Agreement (FTA), marking a significant step toward deepening bilateral economic ties.

Prime Minister Narendra Modi, who was on a two-day State visit to Israel, had earlier called for the early finalisation of an ambitious trade pact while addressing a special plenary session of the Knesset in Jerusalem.

The first round of negotiations was held in New Delhi from February 23 to 26, 2026. The Terms of Reference (ToR) for the agreement had been signed in November 2025, laying down a structured framework for discussions across identified areas aimed at enhancing trade and economic cooperation.

Union Commerce and Industry Minister Piyush Goyal met the visiting Israeli delegation during the talks and emphasised the need for both sides to work closely to unlock new opportunities in trade, innovation and growth. He encouraged negotiators to strive toward a modern, comprehensive and future-ready agreement.

Over the four days, negotiators discussed a broad range of issues, including trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures, intellectual property rights, digital trade and other key chapters.

According to an official statement, the discussions were constructive and forward-looking, with both sides reaffirming their objective of securing a comprehensive, balanced and mutually beneficial pact. The two countries also agreed to continue inter-sessional engagements virtually. The next round of in-person negotiations will take place in Israel in May 2026.

As per data shared by the Ministry of Commerce and Industry, bilateral merchandise trade between India and Israel stood at approximately USD 3.62 billion in FY 2024–25.

Officials noted that the proposed FTA could provide a stable and predictable framework for businesses in both countries and help unlock untapped potential in sectors such as machinery, chemicals, textiles, agriculture, medical devices and advanced technologies.

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The conclusion of the first round signals a shared commitment by India and Israel to expand economic cooperation and create new opportunities for stakeholders on both sides.