FTA with Israel in 2 stages, focus on low-hanging fruit

Two sides agree not to avoid sensitive issues

- FE BUREAU

INDIA AND ISRAEL may negotiate their free trade agreement (FTA) in two phases so that in areas where convergence of the views is faster, the business communities from both sides can start benefiting from it earlier, Commerce and Industry Minister Piyush Goyal said on Sunday.

The minister said he and his Israeli counterpart Nir Barkat have agreed that they will first focus on low-hanging fruit in the FTA. They have also decided not to avoid the sensitive issues on both sides in the FTA negotiations.

“Both ministers are keen to finalise the first phase early so that the trade community benefits sooner,” Goyal said in Jerusalem.

Goyal is leading a 60-member business delegation to Israel. This visit follows the visit of 130 strong Israel business delegation to India in February for meetings with their Indian counterparts.