Israel opened its Embassy in New Delhi in February and in May, India opened its Embassy in Tel Aviv. Since then, the bilateral relationship between the two countries has blossomed at the economic, military, agricultural and political levels.
In recent years there is a renaissance in Israel-India relations. The rapprochement with the relationship is reflected in the growing connections between the business sector in India and Israel. Furthermore, both the countries have seen 23 bilateral Ministerial visits between 2015-19.
Israel's Prime Minister Benjamin Netanyahu visited India in January 2018 and met with the Hon'ble Prime Minister of India. This visit, which occurred about six months after the Indian PM visited Israel, marked 25 years of the establishment of diplomatic relations between the two countries.
In the last 20 years, India and Israel have signed a series of agreements to strengthen economic cooperation. During the Israeli PM’s visit to India, 4 G2G agreements on cyber security, oil & gas, film co-production and air transport were signed, along with 5 other semi-government agreements.
India has become one of Israel’s largest trading partners. Many of the world’s leading high-tech companies in Israel and India are forging joint ventures that are successfully competing in the tough international marketplace.
India's exports to Israel amounted to $3.7 bn while imports from Israel stood at $1.9 bn during 2018-19. Exports to Israel in the last decade have grown by 146%.
Bilateral FDI between Israel and India is estimated to be over $1 bn.
With a strengthened relationship between the two countries, the State of Israel and private universities offer scholarships to Indian students in the country. From undergraduate and graduate to doctoral and post-doctoral programs, a variety of universities throughout Israel seek to encourage Indian students to acquire their higher education in Israel.
Annual Conventions are hosted for the Indians living in Israel and the 'Know India' Programme has been effective in binding the Indians in Israel to their culture. Cultural influences are also reflected in the entertainment industry, from music artists to film producers, with cooperation between the two countries creating original content.
Since 2018, the Indian airline 'Air India' has begun operating direct flights from New Delhi to Tel Aviv. In addition, the company is considering opening another line that will connect Tel Aviv to Mumbai. This reflects a strong emerging connection between the two countries.
India's Lohia Group has entered the aerospace and defense sector by acquiring Israeli composite company Light & Strong Ltd specializing in aerospace and military carbon fiber and glass fiber composite components production.
Net-Translators, a leading provider of professional translation and localization services recently opened their new office in Gurugram. Through this, the company aims to ensure highest-standards in translations, localization, quality control, etc.
Sarine Technologies has opened their Tech lab in Mumbai, offering a full range of grading and documentation services. This is their second lab globally, following opening up of their first lab in Ramat Gan, Israel earlier this year.
L&T Technology Services Ltd, the engineering service subsidiary of Mumbai-headquartered conglomerate Larsen & Toubro Ltd, has leased over 24,700 square foot of office space in Jerusalem’s Har Hotzvim industrial area.
Global pharmaceutical major Teva’s arm Watson Pharma had rented 105,000 sq. ft. of office space in Larsen & Toubro Realty’s office complex in Navi Mumbai.
Mellanox Technologies, leaders in data center Ethernet Interconnect solutions, introduced their Open Ethernet Switch ‘SPECTRUM’, ConnectX-4 Lx Ethernet Adapter and the LinkX family of Ethernet Cables and Transceivers to the Indian market.
Avgol Nonwovens, a leading manufacturer of non-woven fabric solutions, recently established its manufacturing facility in Mandideep, Bhopal, to undertake non-woven fabric production.
Networking with key companies
Foreign investment promotion
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