The newly inked bilateral investment pact marks a milestone, instilling certainty for entrepreneurs across borders. Modi reflected on India’s recent trade deals with Western partners like the EU and UK, and Eastern allies UAE and Oman. Despite a surge in goods trade with Israel, ‘we’re just scratching the surface,’ he remarked, revealing ongoing talks for a comprehensive FTA.

Strategic platforms such as I2U2 and the India-Middle East-Europe Corridor will see intensified cooperation. Dubbed the ‘Startup Nation,’ Israel’s innovative spirit mirrors India’s startup revolution. The 2018 launch of a joint technology incubator has supported 900 ventures, a testament to shared success.

Fresh from organizing a landmark global AI summit with over 100 nations participating, India eyes synergies in cutting-edge fields like quantum tech, chips, and AI. Digital infrastructure innovations promise seamless financial linkages beyond borders.

Modi lauded Israel’s agricultural feats in arid lands, crediting drip irrigation expertise for transforming Indian practices. With 43 joint excellence centers training half a million farmers, the ambitious target now is 100 centers to uplift countless more in agriculture and fisheries.

These announcements signal a new era of economic synergy, blending India’s scale with Israel’s ingenuity for sustainable growth.

During the meeting, discussions revolved around a Free Trade Agreement (FTA) between India and the Eurasian Economic Union (EAEU). The agreement, if realized, would facilitate easier trade. Furthermore, the establishment of a new grain exchange for BRICS nations was also discussed, aiming to boost agricultural trade.

The meeting between Patrushev and PM Modi took place during ‘World Food India 2025’. Patrushev affirmed that Russia would continue to collaborate with India in every sector and would strive to strengthen the relationship between the two countries. Prime Minister Modi expressed his pleasure at meeting Russian Deputy PM Dmitry Patrushev, stating that they discussed ways to enhance collaboration in agriculture, fertilizers, and food processing.

The meeting occurred at a time when Western countries have imposed several sanctions on Russia due to the Russia-Ukraine war. The United States has also imposed an additional 25% tariff on India regarding the purchase of Russian oil. However, India has continued to advance its historical and strategic relations with Russia with a balanced approach.

Trade between Russia and India reached $70.6 billion in 2024, a 9.2% increase compared to 2023. India’s imports from Russia accounted for $67.15 billion. Before the COVID-19 pandemic, this trade was only $10 billion, marking it as the highest trade level ever between the two countries.