Is the Torah like the bible for Jewish people?
The short answer to your question is yes.
Actually, the Bible or the Old Testament (not “the new testament”) is the translation of the Torah. The Torah, given by G-d, to the Jewish people was written in Hebrew and the Bible is merely a translation into English.
The Torah is more than merely a book of the Jewish people; it is the book of laws, guidance, and complete way of life of the Jewish people. In a broader sense, the term “Torah” does not just refer to the Bible, but any of the many writings, teachings, or commentaries related to or about the Bible.
For further reading, please see this page which will give you some more background and detailed information.
Rabbi Yosef Schlussel