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.

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

Advertisement

“We are considering doing this in two tranches. A decision will be taken when the talks begin. Both ministers are keen to finalise the first phase early so that the trade community benefits sooner,” Goyal said.

Minister Goyal said that he and Israeli Economy and Industry Minister Nir Barkat have agreed that they will first focus on low-hanging fruit in the FTA.

Both leaders also decided not to touch the sensitive issues on both sides.

See Full Page