A government official said India and New Zealand are close to finalising a trade pact, with Trade Minister Todd McClay set to visit India on Friday.

Talks with the EU are also advancing, and Trade Commissioner Maros Šefovi is expected in India in mid-December.

The GCC, Bahrain, Qatar, and Israel have also shown interest in trade agreements.

"India is yet to take a call on an FTA with Israel, which is a friendly country and a potential partner in defence, agriculture, and innovation," the official said.