India and Israel set to roll out free trade agreement in phases
India and Israel are teaming up for a phased Free Trade Agreement, aiming to make trade smoother, encourage investment, and spark more innovation between the two countries.
Discussed by Commerce Minister Piyush Goyal during his visit to Israel in late November, the two countries are considering quickly launching parts of the deal that both sides already agree on.
What's in it for both countries?
Even though overall trade dipped to $3.62 billion in 2024-25, there's fresh buzz around high-tech opportunities—like India possibly joining Israel's massive $50 billion Tel Aviv metro project.
India is already a key player in Israel's economy as its second-biggest Asian trading partner, sending over gems, machinery, and textiles while importing defense machinery and petroleum oils.
The new FTA hopes to level up this partnership for both sides.