Israeli Minister of Economy and Trade, MK Nir Barkat expressed his enthusiasm for strengthening Israel’s financial and commerce relations with India on Tuesday, though he didn’t present a transparent timeline for finalising the free commerce settlement (FTA). “We are moving in that path,” stated Barkat, whereas talking to the media on the sidelines of the Israel-India Enterprise Summit 2025, organised in New Delhi.
The 2 nations have been engaged in FTA talks since 2010, with the primary spherical of negotiations going down in New Delhi in Might 2010. Though the purpose was to finalise the settlement by mid-2022, the negotiations are nonetheless underway.
Barkat additionally emphasised the huge alternatives that the financial partnership between India and Israel presents for Israeli firms, particularly in strategic areas comparable to agri-tech, renewable vitality, and superior manufacturing.
“I used to be right here in December. We mentioned the large international alternative that India and Israel have collectively. Geopolitics makes Israel very near the US, but additionally very near India. Israel is tiny, however we’re very progressive, and the ability units of Israeli entrepreneurs and innovation and the flexibility to scale the massive scope of enterprise in India make a basic match. I’m main the largest-ever delegation from Israel to any nation on the earth right here in India. The delegation is warmly accepted, and we are discussing do higher and extra enterprise collectively,” he stated.
Barkat expressed robust optimism, stating, “I’m assured that we can discover a answer, scale the economies, and make the lives of each Indians and Israelis a lot, a lot better sooner or later,” stated Barkat.
Barkat additionally prolonged an invite for extra Indian professionals to work in Israel. “We wish to collaborate. The joint ventures are infinite. Regardless of the enterprise neighborhood wants, our purpose as authorities is to see that occur,” he stated.
Barkat additionally highlighted Israel’s dedication to offering a safe atmosphere for worldwide enterprise and funding. “Israel is virtually one of many most secure locations to do enterprise. We know win wars; we all know safe our residents. You recognize, as a result of battle in Ukraine, 5 million Ukrainians left Ukraine. In Syria, eight million Syrians left the nation. Nevertheless, 100,000 Israelis got here again to battle. We have folks coming again to Israel, not leaving. And, we are very, very proud and blissful to do lots of enterprise with India,” stated Barkat.
Reuven Azar, Israel’s Ambassador to India, praised Israeli enterprise leaders for his or her resilience and assist throughout the ongoing battle within the Center East. He acknowledged their important contributions to Israel’s battle effort, which have been pivotal in sustaining the nation’s financial development throughout tough instances.
Azar reiterated Israel’s dedication to establishing the India-Center East-Europe Financial Hall (IMEC), a groundbreaking challenge geared toward reworking commerce dynamics between India, the Center East, and Europe.
In the meantime, India’s Minister of Commerce & Trade, Piyush Goyal, emphasised the nation’s developmental journey and financial development whereas additionally highlighting the enduring strategic partnership between India and Israel. He famous that each nations can significantly profit from one another’s experience in key sectors, comparable to agri-tech, finance and rising expertise.
The summit is organised by the Division for Promotion of Trade and Inside Commerce (DPIIT), the Ministry of Commerce and Trade, and the Authorities of India in collaboration with the Embassy of Israel and the Confederation of Indian Trade (CII).
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