Israel's largest-ever business delegation to India concluded a landmark visit that sets the stage for a historic free trade agreement between the two nations in 2025, Israel Hayom learned Thursday.
The delegation, comprising more than 100 Israeli companies, conducted over 600 business meetings with Indian business leaders, establishing new pathways for economic cooperation and bilateral investment opportunities.
"Israel's capabilities in innovation and security are extraordinary, and the technology demonstrated in Operation Beepers is truly inspiring," India's Minister of Commerce and Industry Piyush Goyal said during the Israel-India Business Forum in New Delhi. "There are immense opportunities for collaboration between Israel and India, which will lead to significant geopolitical and economic achievements in the region."
The 2024 trade volume between the two nations reached $5 billion, including $2.5 billion in Israeli exports, $1 billion in diamond trade, and $1.5 billion in imports from India to Israel.
Israel's Minister of Economy and Industry Nir Barkat emphasized the visit's significance. "This visit marks a breakthrough in the economic relations between Israel and India. The largest business delegation ever sent from Israel is proof of our commitment to deepening economic ties, expanding Israeli exports, and opening the Indian market to groundbreaking Israeli technologies," Barkat said. "Cooperation between our nations will drive economic growth, strengthen mutual investments, and create new jobs in both countries."
The Israeli companies represented diverse sectors including advanced technology, cybersecurity, smart agriculture, renewable energy, digital health, water technologies, AI, and big data. During their visit, the delegation met with major Indian corporations including TATA, Nasscom, and GMR, and participated in India Energy Week.
Minister Goyal announced plans to lead a delegation of hundreds of Indian executives to Israel in 2025, focusing on investments in Israeli companies and advancing technological collaborations in water technologies, cybersecurity, healthcare, and advanced agriculture.
"The tremendous interest shown by Indian companies in collaborating with the Israeli industry highlights the enormous economic potential," Avi Balshnikov, Chairman of the Israel Export Institute, which organized the delegation, said. "This is just the beginning, and we look forward to significant growth in trade and investments between the two countries in the coming years."
