India Israel Trade

Recent Trends & developments

• Under a comprehensive work plan for cooperation in agriculture signed on May 10, 2006, bilateral projects are implemented through MASHAV (Center for International Cooperation of Israel’s Ministry of Foreign Affairs) and CINADCO (Centre for International Agricultural Development Cooperation of Israel’s Ministry of Agriculture and Rural Development). Agricultural cooperation between the two sides is formalized through three-year action plans. The two countries are currently implementing the fifth phase of the joint action plan (2021-23).
• On September 22, 2020, a Memorandum of Understanding (MoU) was signed between Israel’s Start-Up Nation Central and India’s International Centre for Entrepreneurship and Technology (iCreate) to initiate a bilateral program to accelerate innovation and technology cooperation between start-ups and corporates from both countries. The aim of this program is to bring together Israeli and Indian entrepreneurs and startups to collaborate on innovative projects.
• India and Israel have restarted negotiations for the Free Trade Agreement (FTA) with an aim to conclude it in 2022.
• India and Israel celebrated the 30th anniversary of full diplomatic ties in 2022 with flag colors illuminating historic landmarks in both countries. They also launched a commemorative logo featuring the Star of David and the Ashoka Chakra, symbolizing strong friendship and admiration between the two nations.
• As India and Israel prepare for a Free Trade Agreement, Israel wants to leverage synergies between India’s manufacturing potential and Israel’s technological know-how. Mr. Naor Gilon, Israel’s Ambassador to India, on June 29, 2022, expressed Israel’s desire to share technology for the success of India’s flagship program ‘Make in India’. At the same time, he also expresses concerns about the violation of Intellectual property norms.
• On July 14, 2022, India and Israel, along with the United Arab Emirates (UAE), and the United States, convened for the first leaders’ meeting of the I2U2 group, which was established in October 2021. The group has focused on launching initiatives focusing on food security as well as clean energy. I2U2 group will also advance a hybrid renewable energy project in Gujarat state (India), consisting of 300 megawatts of wind and solar capacity.
• India too has been expanding its economic presence in Israel. In July 2022, Adani Ports and Special Economic Zone Ltd (APSEZ), a joint venture between India’s Adani group and Israel’s Gadot Chemicals Tankers and Terminals Ltd, won the bid for Haifa Port at US$ 1.18 billion. Haifa is Israel’s second-largest port and serves as a major trade hub on the country’s Mediterranean coast.
• India and Israel signed a Memorandum of Understanding (MoU) in May 2023, on industrial research and development cooperation, marking a significant milestone in their scientific and technological partnership.
• The Indian Institute of Technology (IIT), Madras joined hands with the government of Israel to establish an ‘India–Israel Center of Water Technology’ (CoWT) in Water Resources Management and Water Technologies at IIT Madras campus.
• India and Israel are planning a slew of initiatives to bolster their cooperation in agriculture, said Mr. Ohad Nakash Kaynar, Deputy Chief of Mission at Israel’s Embassy in New Delhi. The two countries are planning to push high-level agricultural technology cooperation between Israeli institutions and the Indian Council of Agricultural Research (ICAR).