Israeli Prime Minister Benjamin Netanyahu in his recent address at the United Nations framed Iran as the main source of conflict in West Asia. On Saturday, Netanyahu used two maps, where one map showed Egypt, Sudan, Saudi Arabia, and India in green, which he described as a “blessing” of development. In contrast, another map marked Iran and several other nations in black, calling them a “curse” due to Iran's influence.
With this recent development, let’s have a look at India-Israel ties.
Strengthening India-Israel trade relations
Since the establishment of diplomatic relations in 1992, trade between India and Israel has expanded significantly. In the 2022-23 financial year, trade between the two countries reached $10.7 billion, excluding defence. This marks a substantial rise from the $200 million recorded in 1992. Over the past few years alone, trade has nearly doubled.
According to Indian Express, India exported $8.45 billion worth of goods to Israel in 2022-23, while its imports from Israel stood at $2.3 billion.
Major Indian exports include diesel, diamonds, and aviation fuel, with diesel and diamonds accounting for 78% of the total. Other exports include Basmati rice and wheat, while imports from Israel include space equipment, potassium chloride, and mechanical appliances.
Israel is India’s second-largest trading partner in Asia and the 32nd largest globally, further cementing their economic relationship.
