Tel Aviv / New Delhi — Israel’s Economy and Industry Minister Nir Barkat has said that India plays a key strategic role in Asia and that a long-awaited free trade agreement (FTA) between the two countries could be finalized soon. The comments came during discussions around Indian Prime Minister Narendra Modi’s visit to Israel, highlighting the strengthening relationship between the two nations. (www.ndtv.com)
India Seen as Key Economic Partner
Speaking in an interview, Barkat described India as a “gateway to Asia,” emphasizing its importance for Israeli businesses looking to expand into the broader Asian market. He also praised the close ties between the two countries and the strong people-to-people connections that have developed over the years. (www.ndtv.com)
According to Barkat, the growing cooperation between India and Israel in technology, innovation, and industry creates major opportunities for both economies. Israel brings advanced technological expertise, while India offers large markets and scale for growth. (www.ndtv.com)
Free Trade Agreement Talks Advancing
Negotiations for an India–Israel Free Trade Agreement have been ongoing for several years. Officials from both sides believe the deal could significantly boost trade, investment, and economic cooperation between the two countries. (The Times of India)
In 2025, India and Israel signed the Terms of Reference to formally launch negotiations for the trade agreement, marking a major step toward deeper economic integration. (Press Information Bureau)
If finalized, the agreement could expand collaboration in several sectors, including:
- Technology and innovation
- Agriculture and water management
- Defense and cybersecurity
- Infrastructure and manufacturing
Experts say such cooperation could strengthen the strategic partnership between the two nations.
Growing Economic Relationship
India has become one of Israel’s most important trading partners in Asia. Bilateral trade between the two countries has reached nearly $4 billion in recent years, with both governments expecting the figure to grow significantly in the coming decade. (Reuters)
Leaders from both countries have also emphasized the importance of combining Israel’s innovation ecosystem with India’s large market and industrial scale, which could create new opportunities for startups, technology companies, and investors.
Strengthening Strategic Ties
The deepening economic relationship reflects broader cooperation between India and Israel in areas such as technology, defense, agriculture, and infrastructure. Officials say a trade agreement could further strengthen these ties and open new opportunities for businesses in both countries.
With negotiations progressing, policymakers from both sides have expressed optimism that the long-awaited deal could be concluded in the near future.