India and Israel step forward with baby steps

During four days of negotiations, India and Israel engaged in discussions covering a wide range of areas, including trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures, intellectual property rights and digital trade.

Bilateral merchandise trade between the two countries stood at $3.62 billion [~₹33,506 crore] in FY2024–25.

A proposed FTA offers opportunity to enhance trade flows by providing a framework for businesses in both India and Israel, a press release said. The next round of negotiations will be held in May 2026 in Israel.

Both sides see untapped potential in sectors like machinery, chemicals, textiles, agriculture, medical devices, and advanced technologies.

Apart from reaffirming several ongoing collaborations and schemes, there are 16 in total, is a Letter of Intent to establish an India-Israel Centre of Excellence in Cybersecurity in India.

Both sides agreed to explore linking UPI (United Payments Interface) with Israel’s MASAV to enhance interoperability and strengthen economic ties. The leaders welcomed the launch of the India–Israel Financial Dialogue to boost closer financial cooperation.

Both leaders agreed that up to 50,000 additional Indian workers may arrive in Israel within the next five years.

The two leaders reviewed the work of the Joint Coordination Committee (JCC) and tasked the JCC to meet frequently to discuss outstanding issues related to workers and to resolve them at the earliest.