India, Israel may implement proposed FTA in two phases: Piyush Goyal (Business Standard)
India and Israel are moving toward a free trade agreement that could be rolled out in two phases so both sides can quickly capture early gains by focusing on easy areas like lowering simple trade barriers, improving customs procedures, and boosting innovation and technology cooperation while avoiding sensitive issues for now. Piyush Goyal said the goal is to deliver a fast first tranche that helps businesses sooner, and he also highlighted major opportunities such as Israel’s massive 50 billion dollar Tel Aviv metro project where the country wants experienced Indian companies to bid. Although bilateral trade dipped sharply in 2024 to about 3.62 billion dollars, both countries still see strong complementarities in sectors like diamonds, chemicals, machinery, petroleum products, and high-tech goods, and hope an FTA can revive momentum.
Japan aims to foster growth in areas of semiconductors, AI with India (Business Standard)
Japan and India signaled a stronger partnership as Prime Minister Takaichi Sanae and Prime Minister Narendra Modi met on the sidelines of the G20 Summit and committed to deepening cooperation in critical technologies like semiconductors, artificial intelligence, and broader economic and security areas under their joint vision for the next decade. The meeting, which also included condolences for the recent terrorist attack in Delhi, highlighted Japan’s intention to produce tangible outcomes across defence, economic engagement, and people to people exchanges while both leaders reaffirmed their shared goal of a Free and Open Indo-Pacific. India and Japan described each other as trusted and indispensable partners for regional stability and global prosperity and agreed to stay closely engaged and meet again soon.
India, Canada agree to restart stalled talks for new trade deal: Govt (Business Standard)
Canada and India have agreed to restart negotiations on a major trade deal after a two year diplomatic freeze, with both Prime Minister Mark Carney and Prime Minister Narendra Modi saying they want a high ambition agreement that could double bilateral trade to around 50 billion dollars by 2030 while also expanding cooperation in areas like civil nuclear energy. The revival of talks signals a clear warming of relations after tensions over the killing of a Canadian Sikh separatist, even though current trade levels remain modest at about 31 billion Canadian dollars in 2024 compared to Canada’s much larger commerce with China. Carney is trying to diversify Canada’s trade beyond the United States and said India is a reliable partner despite past friction, and he also used the G20 summit to advance negotiations on a Canada Mercosur free trade agreement.
