India and Israel outline framework to advance free trade deal discussions

Commerce Minister Piyush Goyal and Israel’s Minister of Economy and Industry, Nir Barkat, on Thursday (November 20, 2025) signed the Terms of Reference that set the framework for negotiations on a Free Trade Agreement (FTA) between the two nations.

“This marks an important milestone in initiating dialogue to conclude a fair, wide-ranging, and mutually advantageous FTA that will deepen our commercial, economic, and strategic cooperation,” Goyal wrote on X late Thursday (November 20, 2025).

Mr. Goyal will remain in Israel until November 22, accompanied by a 60-member business delegation, as part of efforts to enhance and diversify trade relations between India and Israel.

“Our shared objective is to broaden and strengthen our bilateral trade by opening new areas of collaboration while keeping in mind sensitivities across different sectors,” Goyal said. “Both sides are firmly committed to capitalizing on our complementarities to achieve outcomes that benefit both countries.”

During his visit, Mr. Goyal has so far held bilateral meetings with Mr. Barkat and Israel’s Finance Minister Bezalel Smotrich. He has also met leaders from several Israeli companies and spoken at the India-Israel CEOs Forum.