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Israel's Special Envoy for Trade and Innovation Fleur Hassan-Nahoum on Wednesday expressed optimism over the proposed India-Israel Free Trade Agreement (FTA), saying its early conclusion could pave the way for a new era of shared economic growth and prosperity between the two nations.
Speaking to ANI as Prime Minister Narendra Modi arrives in Israel for his two-day state visit, Hassan-Nahoum said both countries stand to benefit significantly from a comprehensive and fair trade pact. Highlighting the strength of the two nations in innovation, she said Indian and Israeli companies play a major role in global technology ecosystems, particularly in the US, adding that both countries share a similar work ethic and innovation-driven mindset, contributing positively to the global economy. "Hopefully, if we get this free trade agreement signed quickly, then we can really look forward to an incredible future of prosperity," she said. "Indians are now almost controlling a lot of innovation in the United States. So are Israeli companies. And so everything that we do, both our countries do, is positive. It contributes to the world. We have a similar mindset. We work hard, and that is exactly what the world needs right now," the envoy added. She noted that India is one of the largest buyers of Israeli defence technology and emphasised that trade flows in both directions could expand further under a formal agreement. According to her, several goods are already being imported from India, and a structured FTA would enable both sides to move forward more effectively as strategic partners and allies. "We're thrilled that a free trade agreement is being negotiated. It's about time. India is one of the biggest--the country that actually buys Israel's most defence technology, and there are many things that we can also import from India that we do import from India. It's about time that we got a good and fair trade agreement for everyone so that we can move forward as allies and partners," she added. Earlier on Tuesday, Union Minister for Commerce and Industry, Piyush Goyal, met a delegation from Israel in India for the first round of India-Israel FTA negotiations and said these mark an important step towards enhancing bilateral trade and economic cooperation. In a post on X, Goyal said that FTA negotiations aim at creating greater opportunities for businesses and people on both sides. "Met a delegation from Israel today, visiting India for the first round of India-Israel Free Trade Agreement negotiations (23rd-26th February 2026). The FTA negotiations mark an important step towards enhancing India-Israel bilateral trade & economic cooperation, aimed at creating greater opportunities for businesses and people on both sides," he said. The first round of negotiations for the India-Israel FTA commenced in New Delhi on Monday and is scheduled to take place until February 26. During this round, technical experts from both sides will engage in sessions covering various aspects of FTA, such as trade in goods, trade in services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedure and trade facilitation, intellectual property rights, among others, the Commerce and Industry Ministry said in a release. During Piyush Goyal's visit in November 2025, the Terms of Reference (ToR) for the launch of Free Trade Agreement (FTA) negotiations between India and Israel were signed. During the visit of the Finance Minister of Israel, Bezalel Smotrich, to India in September 2025, a Bilateral Investment Agreement (BIA) was signed to expand economic cooperation, protect investors and boost cross-border investments, laying the foundation for deeper ties and potential FTA discussions. (ANI)
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