Piyush Goyal’s Strategic Visit to Israel
Currently, Commerce Minister Piyush Goyal’s trip to Jerusalem is generating significant attention. Amid discussions of trade agreements with various nations, this visit underscores India’s economic and strategic priorities. It is noteworthy that under Prime Minister Narendra Modi’s leadership, India’s rapidly growing economy has created opportunities to strengthen global trade relations.
Prioritizing Local Interests
During a conversation with reporters, Goyal emphasized that the primary focus during negotiations with different countries is to safeguard the interests of Indian farmers, fishermen, the MSME sector, and local industries. He mentioned that despite the media’s scrutiny, he finds these discussions beneficial as they provide insights into the sentiments of the industry and society, facilitating easier decision-making.
Free Trade Agreement with Israel
While discussing a potential free trade agreement with Israel, Goyal revealed that both nations have signed the Terms of Reference and are now assessing whether the agreement can be executed in two phases. This is considered a significant step towards enhancing trade and technical cooperation between the two countries. He noted that if the agreement proceeds in two phases, the initial chapters would yield immediate benefits for businesses in both nations.
Major Metro Project in Israel
Goyal also highlighted a proposed $50 billion metro project in Israel, which involves approximately 300 kilometers of underground tunneling for the city of Tel Aviv. He stated that Israel is keen for Indian companies to participate in this project, given India’s extensive experience in metro construction, with successful operations in 23 cities. This initiative could open new opportunities for Indian firms in the international market and create jobs domestically.
Strengthening India-Israel Relations
Discussing the India-Israel relationship, Goyal noted a strong understanding between the two countries regarding trust, technology, and innovation. Partnerships in high-tech, cybersecurity, health, AI, and research could further solidify their global standing. He also mentioned a detailed discussion with Israeli Minister Nir Barkat, where they agreed to expedite several projects.
Innovations in Autonomous Vehicles
Additionally, a video of Goyal driving an autonomous car in Jerusalem went viral. He remarked that while the need for such vehicles in India is significant, the emphasis should be on their safety features. He explained that if this technology, developed in Israel, enters a large market like India, it could become more affordable and significantly enhance safety.
Looking Ahead
Overall, this visit appears to be paving the way for a new direction in trade and technical collaboration between the two nations. The government is optimistic about seeing tangible results in the future, which will benefit both countries and deepen their cooperation.
