Israeli Trade Delegation Strengthens Economic Ties with India

Israel’s Minister of Economy and Industry, Nir Barkat, led a delegation of Israeli businessmen to India for a series of meetings with leaders in India’s business and government sectors. India is the world’s seventh-largest economy and Israel’s second-largest trading partner in Asia, after China, with bilateral trade amounting to approximately $8.5 billion.

The delegation consisted of ministry officials and representatives of 15 Israeli businesses in the fields of fintech, agritech, automotive, cleantech, and more. They met with the Indian Minister of Commerce and Industry, Piyush Goyal, Minister of Small and Medium Business Narayan Rane, and representatives of industrial organizations and multinational corporations.

The Israelis also met with members of the Confederation of Indian Industry, a non-governmental trade organization, and Indian members of the Entrepreneurs Organization, an organization active in 60 countries. The primary areas of trade between the two countries include computer services, chemicals and industrial products, precious stones and metals, and transportation products.

“Our economic relations with India are strategic and very significant for the Israeli economy in light of the ongoing technological development boom in India, and I see our economies as complementary economies,” said Barkat. “I am convinced that the common desire and mutual visits, such as this delegation, will deepen the trade relations between the two economies and contribute to the trend of strengthening bilateral relations in recent years.”

The visit to the Chabad House in Mumbai was also an essential part of the delegation’s itinerary, where they paid their respects to six Jews murdered during the Mumbai terror attacks of 2008. The delegation expressed solidarity with the Indian people and their commitment to strengthening bilateral ties.

Israel’s focus on developing economic ties with India highlights the importance of cooperation and collaboration between the two countries. Israel’s commitment to innovation, technological advancement, and entrepreneurship can contribute significantly to India’s development in various fields, from agriculture to water management, and from healthcare to cybersecurity.

As a democratic nation, Israel shares many common values with India, such as respect for human rights, freedom of expression, and the rule of law. These values form the foundation of deep friendship and close cooperation between the two countries.

In conclusion, Israel’s trade delegation’s visit to India emphasizes the strong economic, cultural, and strategic ties between the two countries. As Israel continues to seek opportunities to collaborate and innovate with India, both nations can benefit from each other’s strengths and contribute to each other’s growth and prosperity.