India and Israel are considering implementing their proposed free trade agreement (FTA) in two phases to ensure early benefits for the trade community of both countries, Commerce and Industry Minister Piyush Goyal said on Sunday (November 23).

India and Israel on Thursday inked the terms of reference (ToR) to formally launch negotiations for the agreement.

The ToR include market access for goods by eliminating tariff and non-tariff barriers, investment facilitation, simplification of customs procedures, increasing cooperation for innovation and technology transfer, and easing norms to promote trade in services.

First focus on low-hanging fruit

Goyal, who is in Israel to meet leaders and businesses to discuss ways to boost bilateral trade and investments, said, “We are considering doing

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