Israel FM, Piyush Goyal discuss trade, investment ties, growth avenues

New Delhi: Commerce and industry minister Piyush Goyal on Monday met Israel finance minister Bezalel Smotrich and they discussed further strengthening trade and investment ties and exploring new avenues for mutual growth.

“Delighted to meet Mr. @BezalelSm, Finance Minister of Israel.
Our discussions focused on further strengthening trade & investment ties between our nations and exploring new avenues for mutual growth,” Goyal said in a post on X.


The meeting came after India and Israel formally signed a Bilateral Investment Treaty (BIT).

India and Israel are negotiating a Free Trade Agreement. First round of negotiation was held in New Delhi in May 2010. Eight Rounds have been held since. The eighth round was held in Israel in 2013.

In February, the two sides said that there can be tenfold growth in their bilateral trade coupled with investments from both in the next 12–13 years from about $6.5 billion at present.

The bilateral trade between India and Israel fell to $6.53 billion in FY24 from $10.77 billion in 2022-23. India received $327 million foreign direct investment (FDI) from that country between April 2000 and September 2024.

India and Israel held the first round of negotiations for the agreement in May, 2010. Eight rounds have been held since. The eighth round was held in Israel in 2013.

Israel has also expressed keenness to collaborate with India on the India-Middle East Europe Economic Corridor (IMEC).