India-Israel Economic Partnership: Expanding Trade, Investment, and Innovation The discussions culminated in the identification of five key strategies to enhance the economic partnership between India and Israel:

India and Israel have enjoyed a robust partnership since establishing full diplomatic ties in 1992, with bilateral trade growing nearly 50-fold to approach USD 10 billion in recent years.

At the India-Israel Business Forum held in New Delhi on February 11, 2025, leaders from both nations convened to explore avenues for strengthening bilateral business cooperation. The discussions culminated in the identification of five key strategies to enhance the economic partnership between India and Israel.

Expanding Trade and Investment Opportunities:
India's Commerce and Industry Minister Piyush Goyal underscored the ambition to significantly scale trade relations between the two countries. "We are currently at about USD 6.5 billion in bilateral trade, but both of us feel this is suboptimal. We don't believe in setting low aspirations—we want to aim high and take it to 10 times the current level," Goyal stated.

Shri Amardeep Singh Bhatia, IAS, Secretary, Department for Promotion of Industry and Internal Trade, highlighted India's increasing role in Israel's economy. "India and Israel have witnessed significant growth in trade, reaching USD 10.77 billion before stabilising at USD 6.53 billion last year. As India emerges as Israel's second-largest trading partner, there is immense potential to deepen this partnership and expand our economic collaboration in the coming years."

Advancing Technological Collaboration:
Both countries emphasised the importance of joint ventures in artificial intelligence, digital transformation, and smart manufacturing. By leveraging Israel's technological expertise and India's expanding digital infrastructure, they aim to drive innovation-led growth.

"India and Israel are natural partners. We can innovate for the world and redefine how nations, industries, and entrepreneurs collaborate," Goyal remarked.

Enhancing Defense and Security Cooperation:
Recognising shared security challenges, India and Israel committed to strengthening collaboration in defense technology and cybersecurity. This includes joint training programs, technology-sharing initiatives, and coordinated efforts to address emerging threats, further reinforcing regional stability.

Promoting Innovation-Driven Growth:
The forum emphasised the role of industry-led collaboration, with platforms such as the India-Israel CEO Forum fostering dialogue between business leaders and policymakers. These engagements aim to identify innovative business models, support startups, and create an ecosystem conducive to entrepreneurial success in both nations.

"With over USD 300 billion invested both ways in the past two decades, the India-Israel economic partnership continues to thrive. Indian companies are playing a crucial role in large infrastructure projects, and both nations are fostering key initiatives at the governmental and industry levels to drive further investments," Bhatia noted.

Strengthening Educational and Research Partnerships:
Both nations acknowledged the potential of academic collaborations in driving long-term economic growth. Initiatives to increase student exchanges, joint research projects, and shared educational programs will help develop a highly skilled workforce for the future.

Highlighting India's growing role on the global economic stage, Bhatia added: "India is on track to become the world's third-largest economy, growing at a strong pace of 6.5% annually. With the largest working-age population, a thriving startup ecosystem, and over 100 unicorns, India offers unparalleled opportunities for collaboration in cutting-edge technology, design, and research."

These strategic initiatives underscore the mutual commitment of India and Israel to deepen economic ties, leverage technological strengths, and foster a dynamic business environment that benefits both countries.