Piyush Goyal Engages Israeli Diamond Merchants to Enhance Trade

Union Minister of Commerce and Industry, Piyush Goyal, met with prominent members of the Indian diamond merchant community in Israel on March 14, 2024, as part of his efforts to strengthen bilateral trade relations. During the meeting, Goyal acknowledged the significant contribution of these merchants in enhancing commercial ties between India and Israel. He expressed his appreciation through a post on X, stating, “Interacted with prominent members of the Indian diamond merchant community in Israel. Appreciated their role in strengthening India-Israel commercial ties and discussed ways to enhance bilateral trade in the gems and jewellery sector.”

In conjunction with his meetings, Goyal addressed the India-Israel CEOs Forum, where he was joined by Nir Barkat, Israel’s Minister of Economy and Industry. Goyal emphasized the importance of collaboration between the two countries, highlighting the active discussions among CEOs from both nations. He noted, “Delighted to address the India-Israel CEOs Forum along with Israel’s Minister of Economy and Industry Nir Barkat. The forum saw active participation and discussions by CEOs of both countries as India and Israel look to deepen our strategic partnership in various sectors of our respective economies.”

Free Trade Agreement negotiations were a focal point of the forum. Goyal announced that both nations had signed the Terms of Reference to initiate discussions for a Free Trade Agreement. He stated the potential synergies in various sectors, including agriculture, water, healthcare, defence, infrastructure, digital economy, clean energy, advanced manufacturing, and high-tech innovation.

Earlier in the day, Goyal held a bilateral meeting with Minister Barkat in Tel Aviv, where they explored opportunities to enhance trade and investment between their countries. Goyal is leading a 60-member business delegation to Israel, aiming to engage with top leadership and industry representatives.

On March 15, 2024, Goyal is scheduled to travel to Jerusalem as part of his ongoing visit, further underlining India’s commitment to strengthening its economic ties with Israel. This trip marks a significant step in fostering a robust partnership between the two nations, particularly in the dynamic sectors of trade and industry.