6 months ago
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India and Israel connected Thursday (November 20, 2025) inked Terms of Reference (ToR) to formally motorboat negotiations for a escaped commercialized agreement, Commerce and Industry Minister Piyush Goyal said.
The ToR see marketplace entree for goods by eliminating tariff and non-tariff barriers, concern facilitation, simplification of customs procedures, expanding practice for innovation and exertion transfer, and easing norms to beforehand commercialized successful services.
"We person signed the ToRs today. Now we volition soon finalise the dates for starting the negotiations for that," Mr. Goyal told reporters Tel Aviv. Mr. Goyal is starring a 60-member concern delegation to Israel. He volition conscionable leaders and businesses to sermon ways to boost bilateral commercialized and investments.
The TOR was signed by Mr. Goyal and Israeli Economy and Industry Minister Nir Barkat.
Mr. Goyal said that the Israeli broadside has conveyed that they volition not question marketplace entree successful delicate areas specified arsenic dairy, rice, wheat and sugar.
He besides informed that Israel has travel retired with a pre-qualification for a metro project. It's a $50 cardinal project, and Indian companies tin enactment successful this, Mr. Goyal said.
India and Israel had earlier engaged successful negotiating a akin statement and 8 rounds of talks were held.
During 2024-25, India's exports to Israel dipped 52% to $2.14 cardinal from $4.52 cardinal successful 2023-24. Imports, too, fell 26.2% to $1.48 cardinal past fiscal year.
India is Israel's second-largest trading spouse successful Asia. Though bilateral merchandise commercialized is dominated chiefly by diamonds, petroleum products, and chemicals, caller years person witnessed an summation successful commercialized successful areas specified arsenic physics machinery and high-tech products, communications systems, and aesculapian equipment.
Major exports from India to Israel see pearls and precious stones, automotive diesel, chemic and mineral products, machinery and electrical equipment, plastics, textiles, apparel, basal metals and transport equipment, and cultivation products.
Imports see pearls and precious stones, chemic and mineral/fertiliser products, machinery and electrical equipment, petroleum oils, defence, machinery, and transport equipment.
In September, some countries inked a Bilateral Investment Agreement (BIA), nether which India has chopped down the section remedies exhaustion play for Israeli investors to 3 years from the earlier 5 years.
During April 2000 and June 2025, India received $337.77 cardinal overseas nonstop concern (FDI) from Israel.
