Tel Aviv [Israel], November 21 (ANI): Minister of Economy and Industry of Israel, Nir Barkat, stated that 'Make in India' is one of the smartest concepts and termed the Israel-India partnership as a 'win-win' and extremely valuable.

'Israel's innovation and India's scale make for a great combination. India is scaling so rapidly, we are amazed. 'Make In India' is one of the smartest concepts and is relevant for many Israeli companies. Israel-India partnership is a win-win and extremely valuable,' Minister of Economy and Industry of Israel, Nir Barkat said.

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India and Israel signed the Terms of Reference for negotiations for a Free Trade Agreement, Union Minister of Commerce and Industry, Piyush Goyal said on Thursday.

Goyal also held a bilateral meeting with Nir Barkat, Israel's Minister of Economy and Industry in Tel Aviv.

'India and Israel share similar thinking. We are grateful for this friendship. India continues to rise amidst challenges. The reasons why India should be a compelling investment destination for the world. 10 Ds define India's growth story and commitment to the future. Confident that the speed, scale, skill, and talent that India offers provide huge opportunities on both sides,' Goyal said.

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Commerce Minister also addressed the India-Israel Business Summit

In a post on X, he said, 'Shalom Israel! Truly delighted to be in Tel Aviv for the first time. My first engagement was the address at the India-Israel Business Summit on the theme 'Gateway to Growth' along with my friend and the Minister of Economy and Industry of Israel, Nir Barkat.'

Goyal went on to added, 'The large business delegation accompanying me to Israel speaks of the huge potential that is waiting to be unlocked between businesses on both sides across several key sectors. At the event, I spoke about the complementarities between India's industrial ecosystem and Israel's innovation ecosystem and invited Israeli companies and start-ups to co-develop, co-design, and co-produce in India,' he added.

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Goyal will travel to Jerusalem on Friday as part of his ongoing visit to further strengthen bilateral economic ties. (ANI)