Ever since India formally recognized and established full diplomatic relations with Israel in 1992, trade and commerce between the two nation states has tended to rise. But with the thrust given by the Modi government, things are really looking up, with trade up to $4.5 billions in 2015. A significant proportion of this commerce is defence related. Israel is a tough state with a no-nonsense attitude that India could emulate. Israel recognizes India’s commercial and strategic importance and is leaving no stone unturned to cultivate India.Infact, it is India which has an on again off again attitude towards Israel, depending on national politics.
Recently, India’s head of state, Pranab Mukherjee visited Israel and extended an invitation to the Israeli PM. The visit by Mukherjee was followed by Sushma Swaraj’s visit, which is bound to invigorate trade ties between the two.Israel can supply India with a great deal of technology, not only in defence but also in agriculture and water conservation-drip irrigation is one of them.
PM Modi’s visit to Israel and the Israeli PM’s visit to India are eagerly awaited.
Indian corporates like Reliance,Tata and Tech Mahindra are already invested in startup incubators in Israel, apart from areas of defence, agriculture and IT.India ranks trade with Israel with the likes of the US, Japan and Singapore, thanks to Modi’s initiatives.
Trade with Israel has gone up to $4.5 billion in 2015, whereas it was a few hundred millions in the 90’s.
A defence deal of significance in recent times is the anti-mortar radar to be supplied by Israel.There is also cooperation in fighter jet avionics.Israel is invested in as many as nine states in India, in 26 projects.
On its part, India is desisting from anti Israel rhetoric and voting in the UN,which is interesting as India is seen as a backer of Palestine.
Information Technology ,academic research that may have commercial implication, energy generation, and water conservation are also areas of cooperation between India and Israel.