Goyal Begins Israel Visit With Top CEOs to Fast-Track Long-Pending FTA
Goyal leads 60 CEOs to seal mega trade deal.
Commerce and Industry Minister Piyush Goyal left New Delhi on Tuesday at the helm of an unprecedented 60-member delegation of India’s most influential industrialists and chief executives, embarking on a strategic four-day mission to Israel from November 18 to 21 aimed at decisively concluding a long-pending comprehensive Free Trade Agreement that could transform bilateral economic ties.
The high-level visit is structured to inject decisive momentum into negotiations that have been ongoing since 2010, with both sides now targeting an agreement that would slash tariffs on over 90 per cent of traded goods and services, potentially propelling annual bilateral trade from the current $12 billion to more than $50 billion within the next decade through deeper integration across critical sectors.
The delegation features an extraordinary lineup of corporate heavyweights representing pharmaceuticals, defence and aerospace manufacturing, agricultural technology, diamond processing, information technology services, cybersecurity, renewable energy, and water management, underscoring India’s intent to absorb Israel’s world-leading innovations while positioning the country as the preferred global manufacturing and consumption hub for Israeli companies.
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Senior officials travelling with the minister confirmed that the agenda includes marathon negotiations with Israel’s Economy and Industry Minister Nir Barkat and senior trade negotiators to eliminate persistent non-tariff barriers, align regulatory standards, establish mutual recognition agreements, and lay the foundation for large-scale joint ventures in frontier areas such as artificial intelligence, precision agriculture, desalination, and homeland security technologies.
This mission carries far-reaching geopolitical and economic significance as India accelerates efforts to diversify strategic trade partnerships and reduce dependence on traditional markets, with the prospective India–Israel FTA expected to set a new benchmark for future agreements with advanced economies while cementing the economic pillar of an already deep strategic partnership between the two nations.
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