Israel’s Economy Minister to Lead Largest-Ever Business Delegation to India
Feb 8: Israel’s Minister of Economy and Industry, Nir Barkat, is set to lead the country’s largest-ever multi-sectoral business delegation to India next week, aiming to strengthen bilateral trade and investment ties. This marks his third official visit to New Delhi and comes at a pivotal time for economic collaboration between the two nations.
The two-day visit, commencing Monday, will feature high-level discussions, including a key meeting between Barkat and India’s Commerce and Industry Minister, Piyush Goyal. The delegation, comprising over 100 leading Israeli companies, will represent diverse sectors such as healthcare, energy, cybersecurity, defence, homeland security, agritech, smart mobility, water technology, and food technology.
Coordinated by Israel’s Ministry of Economy & Industry and India’s Ministry of Commerce & Industry, the visit will also engage major trade organizations, including the Israel Export Institute, Federation of Israeli Chambers of Commerce, and The Manufacturers Association of Israel. On the Indian side, industry bodies like FICCI and CII will take the lead.
The two-day agenda includes a high-profile business forum, B2B meetings, an exclusive CEOs Forum curated by both governments, a session by Invest India (under DPIIT), sectoral roundtables, and industry site visits. Additionally, the Israeli delegation will participate in India Energy Week, a flagship event being held in Delhi.
The visit comes amid cautious optimism from Israeli businesses, bolstered by the resumption of Air India flights to Tel Aviv from March 2 and relative stability in Israel following recent ceasefire agreements.
Israel has been increasingly looking towards India to address its skilled labor shortages, particularly in the wake of the October 7, 2023, attack by Hamas, which led to a prolonged conflict. To date, around 13,000 Indian workers have been deployed in Israel’s construction sector, with further recruitment underway across other industries.
Historically, Indo-Israeli trade revolved around the diamond industry, but recent years have seen a diversification into six key sectors: Advanced Manufacturing, Climate & Desert Tech, Agro & Food Tech, Defence & Homeland Security, High-Tech, and Life Sciences & Health. With growing economic synergies, Barkat’s visit is expected to reinforce Israel’s long-term trade and investment strategy with India.
(Source: PTI)