The New Arab - 14 June 2022
India, Israel to resume talks for free trade agreement
Israel and India are preparing to resume talks for a free trade agreement between the two countries, according to reports.
Israel’s Economy Ministry on Monday confirmed that a delegation from India had arrived in Jerusalem to discuss the framework for such a deal, according to Reuters.
In October 2021, both countries had agreed to resume talks with the aim of striking a free trade deal by the middle of 2022.
The Indian team has reportedly met with Israeli counterparts to discuss rules for any agreement, but it is unclear when actual talks would take place.
India and Israel have strengthened ties over the past eight years since right-wing Prime Minister Narendra Modi was elected to office in 2014. Since then, both countries have ventured deeper into strategic, technology and military partnerships.
Trade between the two countries totalled $6.3 billion in 2021, and Israel has emerged as one of India’s biggest weapons suppliers, along with Russia and the United States.
Between 2015 and 2019, India’s arms imports increased by 175 percent, according to the Stockholm International Peace Research Institute.