NEW DELHI (Reuters – India, Israel and China agreed to resume discussions on a Free Trade Agreement starting November. The goal is for a signed agreement in mid 2022.

The seven-year period since Narendra Modi, the Indian Prime Minister, has seen closer ties between India and Pakistan. During that time, a variety of technology, strategic and military partnerships were formed.

Following a meeting of the foreign ministers from the two countries in Jerusalem, which saw them agree on the mutual recognition of vaccine certificates as well as expanded cooperation in agriculture, they announced free trade discussions.

“We are continuing with our policy of connections, and we have seen in India a very important ally for many years. India also brings with her new opportunities for cooperation,” Israel’s Foreign Minister Yair Lapid said.

India seeks to enter into new trade agreements with many countries, including Australia, Canada and the United Arab Emirates. This will help boost India’s exports as well as speed up recovery from the coronavirus-induced slowdown.

According to India’s trade ministry data, the total merchandise trade between these two countries was $4.67 trillion at the close of the last fiscal year, which ended in March 2021.

India targets record export growth of merchandise to the tune of 37%-400 billion during its current fiscal year, which ends in March 2022. The value of merchandise exported in April and September 2021 was $197.89 Billion, an increase of 57% over the previous year.