Tel Aviv, Nov. 20 -- India and Israel have formally signed the Terms of Reference (ToR) to begin negotiations for a Free Trade Agreement (FTA), marking a significant step toward strengthening economic ties between the two countries.

The signing ceremony was attended by India's Minister of Commerce and Industry, Piyush Goyal and Israel's Minister of Economy and Industry Nir Barkat in Tel Aviv.

Speaking at the event, Minister Goyal confirmed that both nations have agreed to commence negotiations for a comprehensive FTA.

He emphasised that the proposed agreement would substantially enhance bilateral economic engagement.

According to Goyal, the FTA will open the doors to greater market access, flow of capital, investments and trade, both ...