India and Israel seal free trade agreement—big boost for business
India and Israel have just finalized the terms of reference for a Free Trade Agreement in Tel Aviv, aiming to seriously ramp up their partnership.
The goal? Take trade from the current $6.5 billion to $30-40 billion in the coming years, and maybe even hit $65 billion over the next decade.
Commerce Minister Piyush Goyal called the signing of the terms of reference a major step forward for both countries.
What's in it for both sides?
The FTA is all about making it easier to do business—think fewer trade barriers and better market access.
While Israel isn't eyeing India's dairy or sugar markets, they're keen on smoother shipping of Indian goods.
A big Indian business team tagged along, including folks from pharma, defense, and agritech sectors.
Israel's Economy Minister Nir Barkat also highlighted how India could be a key gateway to Asia for Israeli innovation.