A large-scale Israeli business delegation departed for India this morning (Monday), led by Israeli Minister of Economy and Industry, Nir Barkat, with the goal of enhancing economic cooperation between the two nations. The visit comes at the invitation of Indian Minister of Commerce and Industry, Piyush Goyal.
This delegation marks the largest-ever Israeli trade mission to India, comprising over 100 Israeli technology companies and importers, all seeking to expand trade relations between the countries. Discussions will focus on bringing skilled Indian workers to Israel under fair employment conditions, reinforcing Israel’s labor market while fostering closer ties with India.
Bilateral trade reaches billions of dollars annually
Trade between Israel and India continues to expand rapidly, solidifying its place as one of Israel’s key economic corridors in Asia. In 2024, total trade between the two nations reached $5.01 billion, covering goods, services, and diamonds. Of this, Israeli exports to India amounted to $2.39 billion, while imports from India to Israel totaled $1.42 billion. Additionally, the diamond trade between Israel and India reached $1.2 billion, reinforcing India’s position as a strategic export destination for Israel. Indian trade accounts for 3.48% of total Israeli exports, with leading sectors including transportation products, chemicals, medical equipment, and agricultural goods. The growing bilateral trade and advanced technological collaborations point to significant potential for economic expansion in the coming years.
Minister Barkat: “A Major Step in Strengthening Economic Ties”
“This trade mission to India is a significant step toward deepening economic ties, driving Israeli economic growth through increased exports, and lowering the cost of living by expanding imports,” Minister Barkat stated. He emphasized the importance of opening new markets, boosting trade, and removing barriers for Israeli industries: “The combination of Israeli innovation and India’s massive market is a major growth engine for Israel’s economy. We are committed to leveraging this opportunity for the benefit of Israeli citizens and businesses,” Barkat added.
