NEW DELHI: Trade between India and Israel has increased from $5 billion before the COVID pandemic to about $7.5 billion now, Israeli envoy Naor Gilon said recently, terming it “very encouraging” for both nations.
The Ambassador of Israel to India said a Free Trade Agreement (FTA) between the two countries, negotiations for which have been going on for over a decade, got a push after the visit of External Affairs Minister S. Jaishankar to his country in 2021.
“However, I believe that even without an FTA, our trade is doing wonders. Since, before the Covid pandemic to last year, we increased our trade by 50% from $5 billion to about $7.5 billion, which is very encouraging, and
I believe this trend in increasing trade will continue,”
Mr. Gilon.
Asked if Israeli Prime Minister Benjamin Netanyahu will visit India, he said given the busy schedules of Netanyahu and Prime Minister Narendra Modi,
a mutually convenient time would be fixed for a visit.
Prime Minister Modi recently spoken with Netanyahu and discussed ways to further strengthen the India-Israel friendship.
Asked if the recent allegations against the Adani group could have an impact on the development of the strategic Israeli port of Haifa, the envoy said,
“(Gautam) Adani is a very strong player in the
world’s port system. That is his core business.
We believe that he will make this port stronger. He has paid all the money for the port.” Shares of Adani group companies witnessed massive sell-offs after a US-based short-seller firm Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the group. The conglomerate has denied the allegations.
“The port is his (Adani). I believe the company has an interest in making this port successful, that is the hope of Israel and the interest of Israel, and that is in the interest of the Adani group as well. I believe that this port is going to be a flourishing port in the Mediterranean,” Mr. Gilon said.
A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel’s Gadot Group won the tender in July last year to privatise the Port of Haifa for
$1.18 billion.
On January 31, the Adani Group acquired the port.
Its Chairman Gautam Adani had appeared alongside Prime Minister Netanyahu for signing of the deal to takeover the port.
On the long-pending FTA between Israel and India, the ambassador said negotiations have been going on for over a decade and there has been a push for it since the visit of External Affairs Minister Jaishankar to Israel a year and a half ago.
