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Gaza war dampens push on India-Israel free trade talks
January 08, 2024
|Mint Mumbai
Normalcy in FTA negotiations is expected after de-escalation of the conflict, say officials
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Talks between Israel and India on a free trade agreement (FTA) have hit the skids due to the war in Gaza, two people aware of the matter told Mint. The war, sparked by the Hamas attack on Israel on 7 October 2023, has consumed much of the focus of India-Israel ties, said one of the people mentioned above, requesting anonymity.
"It has become a major obstacle to the regular pace of talks (on a free trade agreement) between the negotiating teams," the person added.
Normalcy in the FTA negotiations between Israel and India is expected only after de-escalation of the war, said the second person, who too spoke under the condition of anonymity.
Spokespersons of external affairs and commerce ministries and the Embassy of Israel didn't respond to emailed queries.
India is Israel's 10th largest trade partner, and third largest in Asia after China and Hong Kong. Bilateral trade was estimated at about $12 billion in FY23.
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