New Delhi, Jan 01: India’s Commerce Ministry officials are set to engage in bilateral trade discussions with Israel in January, focusing on framework and gateway issues following the signing of terms of reference for a Free Trade Agreement (FTA) in November.
This comprehensive pact aims to enhance trade, investment, and cooperation across sectors such as technology, defense, and agriculture. Concurrently, India’s trade team will visit Russia for a second round of talks on the India-EAEU free trade agreement after the Union Budget is presented on February 1.
The Eurasian Economic Union (EAEU), which includes Russia and four other countries, seeks to promote economic integration and the free movement of goods and services. Current discussions will address the reduction of non-tariff barriers faced by Indian exporters into the EAEU, mainly concerning regulatory overlaps with Russian and European norms.
The ultimate goal of both India and Russia is to elevate bilateral trade beyond energy sectors to a target of $100 billion by 2030, focusing on clearer export rules and enhanced connectivity.
