During an official visit to Israel, Commerce Minister Piyush Goyal said India and Israel will fast-track the first phase of a proposed Free Trade Agreement by resolving easy-to-settle issues first. The aim is to accelerate early benefits for both economies, deepen innovation partnerships, and unlock new sectors for collaboration.

BulletsIn:

* India & Israel to fast-track first phase of proposed FTA

* Focus on “low-hanging fruits” and removing sensitive issues early

* Innovation & R&D identified as core areas for next-generation cooperation

* Israel’s tech strengths + India’s scale & skilled manpower to drive joint projects

* ToR signed on Nov 20 to begin formal FTA negotiations; 8 previous rounds (2010–21)

* FTA to cover tariff cuts, faster approvals, market access & reduced non-tariff barriers

* Talks to include investment, customs ease, defence, space, fintech, AI, cyber & agri-tech

* Service sectors like IT, BPO & tourism expected to gain significantly

* 8–10 firms shortlisted for ₹4.5 lakh crore Tel Aviv metro project

* Israel projects 10x trade surge; India aims for $30–40 bn trade in 5 years

* Goyal meets President Isaac Herzog & PM Netanyahu; discusses innovation, water, defence & S&T cooperation