India, Israel sign mandate to guide free trade deal negotiations

Trade Minister Piyush Goyal and Israeli Minister of Economy and Industry Nir Barkat on Thursday (November 20, 2025) signed the terms of reference that would guide negotiations on a free trade agreement (FTA) between the two countries.

“This is the first crucial step towards facilitating negotiations aimed at concluding a balanced, comprehensive and mutually beneficial FTA to strengthen and improve our trade, economic and strategic partnership,” Mr. Goyal posted on X on Thursday evening (November 20, 2025).

Mr. Goyal is in Israel until November 22, with a 60-member trade delegation, to discuss ways to deepen and expand bilateral trade between India and Israel.

“Our common objective is to diversify and strengthen bilateral trade, creating a larger market by identifying new areas of cooperation while addressing the sensitivities of various sectors,” Mr. Goyal said. “We remain committed to leveraging our respective complementarities to achieve a mutually beneficial outcome for both parties.”

So far, Mr. Goyal has held bilateral meetings with Mr. Barkat as well as Israeli Finance Minister Bezalel Smotrich. The Commerce Minister also held meetings with the heads of several Israeli companies and also spoke at the Indo-Israeli CEO Forum.