Prime Minister Narendra Modi on Thursday said India and Israel will finalize a mutually beneficial free trade agreement (FTA) and announced the creation of a “significant and emerging technology partnership” to deepen cooperation in the technology and innovation sectors.
Speaking during the joint statement with his Israeli counterpart Benjamin Netanyahu as part of his two-day official visit to the country, Prime Minister Modi said the two leaders discussed conveying a new direction and faster pace to bilateral cooperation.
“At today’s meeting, we discussed giving a new direction and faster pace to our cooperation. Our economic cooperation is the engine of growth, innovation and shared prosperity. To encourage mutual investment, we concluded a bilateral investment agreement last year. We will soon finalize a mutually beneficial free trade agreement,” he said.
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Highlighting the growing focus on technology-based cooperation, the Prime Minister said technology will form the core of the future partnership between the two countries.
“Technology is at the core of our future partnership. Today, we have decided to create a ‘Critical and Emerging Technology Partnership’. This will give new impetus to cooperation in areas such as artificial intelligence, quantum and critical minerals.”
The first round of negotiations on the India-Israel Free Trade Agreement began in New Delhi on Monday and is scheduled to continue until today.
Union Minister of Commerce and Industry Piyush Goyal on Tuesday met an Israeli delegation in India to participate in the first round of FTA negotiations.
During Piyush Goyal’s visit in November 2025, the Terms of Reference for launching Free Trade Agreement (FTA) negotiations between India and Israel were signed.
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Prime Minister Modi also welcomed the agreement on the use of India’s Unified Payments Interface (UPI) in Israel and termed it an important step in strengthening digital cooperation, adding that both countries are committed to leveraging digital health innovations to improve the lives of their citizens through shared experiences and best practices.
“In the field of digital health as well, we are committed to improving people’s lives by sharing our experiences,” he added.
In the defense sector, the Prime Minister noted that India and Israel have been sharing trusted cooperation for decades, which is set to expand further.
“In the field of defence, we have had reliable cooperation for decades. The memorandums of understanding signed last year will add new dimensions to this cooperation. We will move together towards joint development, joint production and technology transfer,” he said.
He further stated that the two sides will enhance cooperation in the field of civil nuclear energy and space, stressing the expansion of the strategic partnership between India and Israel.
Prime Minister Modi is currently on a two-day state visit to Israel at the invitation of his Israeli counterpart Benjamin Netanyahu.
