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Goyal noted that he shares a strong working relationship with Israel’s Minister Nir Barkat, comparing it to the bond between PM Narendra Modi and Israeli PM Benjamin Netanyahu.
Union Minister Piyush Goyal and his Israeli counterpart Nir Barkat (Credits: ANI)
Union Minister Piyush Goyal and his Israeli counterpart Nir Barkat on Thursday signed the Terms of Reference (ToR) for a proposed Free Trade Agreement (FTA) between India and Israel.
Goyal said the signing marked the formal start of discussions on the FTA. His comments came during his visit to Tel Aviv, where he noted that Thursday’s agreement was the first step towards beginning official negotiations.
Goyal said, “The first step to initiate the discussions on the Free Trade Agreement (FTA) between India and Israel has been taken today. We signed the Terms of Reference today.”
He added that he shares a strong working relationship with Israel’s Minister Nir Barkat, comparing it to the bond between Prime Minister Narendra Modi and Israeli Prime Minister Benjamin Netanyahu.
“Israel’s Minister Nir Barkat and I have forged a relationship just like that between PM Narendra Modi and PM Netanyahu. There is immense potential for partnership between the two nations; there are complementary possibilities,” he said.
#WATCH | Tel Aviv | Union Minister Piyush Goyal says, “Israel and India have decided to enter into negotiations for a Free Trade Agreement… It will open the doors to greater market access, flow of capital, investments and trade, both in goods and services, remove obstacles to… https://t.co/eB9bZe9qHx pic.twitter.com/3wU7ZvD17r— ANI (@ANI) November 20, 2025
“The two nations also face similar challenges. Keeping that in mind, we feel that this could be a good beginning. There will be a good Agreement for bilateral trade, and extensive new opportunities will be thrown open,” Goyal added.
Israel Wants To Join Venture With India, Says Minister Nir Barkat
After signing the Terms of Reference (ToR) for FTA, Israel’s Minister of Economy and Industry Nir Barkat said that Tel Aviv wants join a venture with India to help India become stronger and bigger.
“At the same time, collaborate and make Israel stronger and better. So, there is a huge potential. I found a really good friend, Minister Piyush Goyal, and I see eye to eye on how to develop the complementary countries. You have the skill, we have innovation and the combination of the two is very important and big. We also look at India, not just as an Indian market – which is the largest population in the world, but as a gateway to all of Asia. So, for Israeli entrepreneurs to understand how to do business with India is key, very important for our interests. I am very thankful and I am a big optimist as to where we could take the relationship,” he added.
#WATCH | Tel Aviv, Israel: After signing Terms of Reference (ToR) for FTA between India and Israel, Israel’s Minister of Economy and Industry Nir Barkat says, “I viewed how India is waking up as a huge giant. India of tomorrow is a great power. We want to join a venture with… pic.twitter.com/AkHOr4xPTr— ANI (@ANI) November 20, 2025
Piyush Goyal Meets Netafim CEO Is Israel
Earlier in the day, Goyal met Gaby Miodownik, CEO of Netafim in Israel. Sharing a picture on X, he wrote,”Pleased to meet Mr. Gaby Miodownik, CEO of Netafim in Israel. Reviewed the group’s work in India and identified avenues to expand partnership in precision irrigation, agri-tech, and sustainable farming solutions.”
Anushka Vats is a Sub-Editor at News18.com with a passion for storytelling and a curiosity that extends beyond the newsroom. She covers both national and international news. For more stories, you can follow her…Read More
Anushka Vats is a Sub-Editor at News18.com with a passion for storytelling and a curiosity that extends beyond the newsroom. She covers both national and international news. For more stories, you can follow her… Read More
November 20, 2025, 9:27 pm IST
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