Goyal’s Israel visit sets stage for FTA push, deeper tech & investment ties

Union Commerce and Industry Minister Piyush Goyal has concluded a “highly productive and strategically important” three-day visit to Israel, with the two sides formally launching the framework for Free Trade Agreement (FTA) negotiations and identifying multiple new areas for economic and technological cooperation, senior Commerce Ministry officials said on Tuesday.

Goyal, who was in Israel from November 20 to 22, held bilateral meetings with Israel’s Minister of Economy and Industry Nir Barkat, Finance Minister Bezalel Smotrich and Agriculture and Food Security Minister Avi Dichter. He also called on Israeli President Isaac Herzog and Prime Minister Benjamin Netanyahu.

A Commerce Ministry official said the signing of the terms of reference for the India-Israel FTA was the “most significant deliverable” of the visit. “This provides a structured pathway for negotiations aimed at a balanced and mutually beneficial agreement. Both sides expressed strong political will to fast-track the next phase,” the official said.

Talks with Israeli Finance Minister Smotrich focused on opportunities for Indian companies in infrastructure and mining, as well as the continued deployment of Indian workers in Israel. Meanwhile, discussions with Dichter centred on long-term food-security planning, seed-improvement technologies and Israel’s globally recognised expertise in agricultural water reuse.

Goyal also addressed the India-Israel Business Forum and CEOs’ Forum, which saw participation from leading companies from both countries and facilitated more than 250 B2B meetings. “The minister emphasised India’s massive potential for Israeli innovators in sectors such as agritech, water technology, defence, fintech, AI, quantum computing and space,” another senior official said.

During his engagements with top Israeli firms, including Check Point, IDE Technologies, NTA and Netafim, Goyal explored collaborations in cybersecurity, desalination, wastewater management, metro systems, urban mobility and precision agriculture.

He visited the Peres Centre for Peace and Innovation, reviewed autonomous-driving technology at Mobileye and studied sustainable agricultural models at Kibbutz Ramat Rachel. Goyal also interacted with the Indian business delegation, the diamond community, Indian workers in Israel and local industry associations.

Goyal’s closing meetings with President Herzog and Prime Minister Netanyahu focused on expanding strategic cooperation in agriculture, water, defence, cybersecurity, science and innovation. The Commerce Ministry said the 60-member Indian business delegation also undertook exposure visits to key innovation hubs, hospitals and agricultural centres.