Israel India | Business Guide | 2017

Embassy of Israel in India 010 > Greetings > ‏ Head of Economic & Trade Mission, Embassy of Israel in India Israel-India > Business Guide > 2017 Barak Granot Dear Friends and Colleagues, A s you may already know, India and Israel are celebrating 25 years of growing partnership this year. 25 years ago, in the year of 1992, our two countries decided to establish diplomatic relations and ever since, there has been a steady and consistent growth in bilateral trade and economic relations. India has become one of Israel's largest trade partners, as many of the world's leading high-tech companies in our countries are forging joint ventures that are successfully competing in the tough international marketplace.Trade and cooperation between India and Israel has grown beyond security- related deals and is now focusing on cooperation in areas such as agriculture, water desalination and medical devices. As of 2016, India-Israel trade had risen to approximately $4.5 billion a year,far surpassing the modest $200 million of 1992.India is also listed as Israel’s third-largest Asian trade partner after China and Hong-Kong. There are various existing agreements on space cooperation, agriculture collaboration,training and know-how sharing and even several agreements on water and innovation (R&D). India-Israel cooperation was enhanced since the election of India's PrimeMinister Narendra Modi in 2014. The two countries planned and succeeded in taking relations to a new level and to increase cooperation in various fields. President of India Pranab Mukherjee made the first ever presidential visit to Israel in 2015, followed by the visit of the Israeli President Reuven Rivlin who visited India for a full week in mid-November 2016. Following the emphasis by Prime Minister Modi’s Government on addressing issues related to agriculture, water management, smart cities,healthcare,rural development and infrastructure development in the country as well as the importance accorded to start- ups and social security, Israeli companies have found a climate in India manifested by increased business delegations arriving in India and participating in exhibitions, Seminars, etc. We can also say that there is an equally positive reciprocity from India and have observed a growing interest from the government and the private sector in doing business with Israel. Notably,visa issuance to Indians and Israelis wishing to do business has been an issue of discussion between the two countries for many years, as businesspeople who have visited Israel or India in the past raised concerns regarding the visa policies.Therefore, we are all happy that the two governments have decided on a new visa policy of "five- year multiple entry visas" for Indian and Israeli businesspeople. We are hoping that this new policy will ease the life of businesspeople from India and Israel on their business journeys and are positive that the forthcoming visit by Prime Minister Modi to Israel will open yet another shining chapter in India-Israel relations as the two countries mark 25 years of diplomatic ties. Good Luck to us all! Barak Granot Head of Economic and Trade Mission Embassy of Israel – New Delhi, India