India-Israel Strategic Partnership
Prime Minister Narendra Modi visited Israel to review the strategic partnership with Israeli Prime Minister Benjamin Netanyahu. Discussions focused on expanding cooperation in various fields, such as science and technology.
Historical Context
- Modi’s visit in 2017 marked the first by an Indian Prime Minister to Israel.
- India and Israel have had full diplomatic relations since 1992, which have deepened over the past decade.
Economic and Trade Relations
- Bilateral trade grew from $200 million in 1992 to over $10.7 billion in 2022-23, but declined to $3.6 billion in 2024-25 due to war-related disruptions.
- India has maintained a trade surplus with Israel since 2014-15, peaking at $6.1 billion in 2022-23.
- Exports to Israel are dominated by refined petroleum products (44%) and diamonds (22%).
- Imports from Israel mainly consist of diamonds, fertilizers, electronic circuits, and radar apparatus.
Defense and Strategic Cooperation
- Defense collaboration is a cornerstone, with India being a major importer of Israeli arms, accounting for over 38% of its arms exports between 2014-2024.
Investment and Technology Collaboration
- Israeli FDI in India has surpassed $347 million, with over 300 investments primarily in technology sectors.
- Indian companies have invested $443 million in Israeli technology firms, focusing on cybersecurity, agriculture, water management, and electric mobility.
- The collaboration supports India's "Make in India" initiative, with Israeli firms partnering with Indian companies for local manufacturing.
Migration and Labor Mobility
- In 2024, approximately 32,715 Indians traveled to Israel, mainly for employment.
- There were around 32,000 Indian workers in Israel as of October 2024, employed primarily in construction roles.
- About 900 Indian students are currently studying in Israel.
