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Overview of India-Israel Bilateral Trade
and Economic Relations Since the establishment of diplomatic relations between India and Israel in 1992, bilateral trade and economic relations have progressed rapidly. From a base of US$ 200 million in 1992 (comprising primarily of diamonds), merchandise trade has diversified and had increased sharply reaching US$ 4010.1 million in 2008. However the world economic crisis also affected the bilateral trade in 2009 which now stands at US$ 2983.10 million, a decrease of 25.61% over 2008. (This decline seems to have reversed once again as the trade
started picking up during the last quarter of 2009 but for which the decline
in bilateral trade would have been over 30% as compared to 2008) India stood at the tenth place in terms of Israel's trade partner countries and the third largest trade partner in Asia, and remained a 'focus' country of the Israeli Government for increased trade effort. While India's exports to Israel in areas other than diamonds have increased over the years, Diamonds still constituted 41.9% of the bilateral trade in the year 2009. Major exports from India to Israel during the year 2009 were precious stones and metals, chemical products, textile and textile articles, plants and vegetable products, mineral products, rubber and plastic products, base metals and machinery. Major items exported by Israel were precious stones and metals, chemical and mineral products, base metals, machinery, and transport equipment. According to figures released by the Department of Industrial Policy & Promotion (Government of India), FDI inflows from Israel to India from April 2000 to November 2009 totaled US$ 23.94 million placing it at 44th rank (0.02% of total FDI inflows in India). These figures, however, may not accurately reflect the FDI from Israel, as a number of Israeli companies also invest in India through the US and Europe route. While the traditional business thrust in diamonds, agriculture, chemicals, information & communication technology and pharmaceuticals remained strong, there is a growing interest from Israeli companies in clean energy, water technologies, biotech, nanotech, homeland security, real estate, infrastructure and financial services. Since the establishment of diplomatic relations in 1992, several agreements were signed between Israel and India including the following:
In May 2005, an MOU on Industrial Research and Development Initiative between Department of Science & Technology, Government of India and the Ministry of Industry, Trade & Labor, Government of Israel was signed with the objectives of promoting activities of bilateral industrial R&D cooperation and to identity and promote specific projects that could lead to industrial R&D. Under this MOU India and Israel also set up a joint industrial Research and Development fund (called i4RD) to encourage investment and joint ventures. Within the
context of the i4RD bilateral framework, funding mechanisms have
been created, through which industry, may seek support for joint bilateral
research and development (R&D) projects, involving at least one Indian
and one Israeli company. The bi-lateral framework
is jointly implemented by Global Innovation and Technology Alliance (GITA),
an initiative Department of Science & Technology of the Ministry of
Science & Technology in India (DST), and Confederation of Indian
Industry (CII) on behalf of
Department of Science & Technology, in India and MATIMOP, Israeli
Industry Centre for R&D, on behalf of the Office of the Chief Scientist (OCS)
in Israel. Few projects have already
been financed by this fund. The initial focus of the i4RD
5th Call was biotechnology,
nanotechnology, space science & technology, water management and
non-conventional energy sources (particularly solar). A comprehensive Work Plan for cooperation in the field of agriculture was signed on 10th May 2006 (when Mr. Shalom Simhon, the current Agriculture Minister was holding the same portfolio). The Work Plan which was to be in force till 1.6.2008 was followed by an Action Plan 2008-2010 (more information in the following pages).
On March 30, 2009, the Israeli Export and International Cooperation Institute, a semi- government organization, introduced the “Shavit Program” which will focus on the three fastest growing economies of the world: India, China and Brazil. An initial budget of US$ 30 million was allocated by the Israeli government for this plan. In the Indian context the program will focus on three main sectors: Telecom, IT, and Home Land Security. Under this programme many delegations from HLS, IT and Telecom Sectors have already visited India and Israel resulting in much greater interaction between the Indian and Israeli companies. 60 Israeli companies are already registered under this programme and 25 companies have been reported to have entered into concrete business deals with Indian companies. Recently SHAVIT Programme has been expanded to include Agriculture and Water Management also. Bilateral trade
figures for the period January-December 2009: Salient points of the bilateral trade figures during January–December 2009 (Central Bureau of Statistics of Israel) are as follows: India-Israel two-way trade decreased by 25.61% during
January-December 2009, from US$ 4010.1 million in Jan-Dec 2008 to US$ 2983.1
million in Jan-Dec 2009. Indian exports to Israel during January-December of 2009 decreased by 29.8% from US$ 1648.8 million in 2008 to US$ 1157.4 million in 2009. Indian exports, excluding diamonds decreased by 23.01%, from US$ 673.6 million in January-December 2008, to US$ 518.6 million in January-December 2009. Israeli exports to India during January-December of 2009 decreased by 22.68%, from US$ 2361.3 million in 2008 to US$ 1825.7 million in 2009. Israeli exports, excluding diamonds, decreased by 11.92% from US$ 1377.9 million in January-December 2008 to US$ 1213.7 million in January-December 2009. There was a decrease of 36.14% in diamonds traded between the two countries during January-December of 2009, from US$ 1958.6 million in 2008 to US$ 1250.8 million in 2009. Exports of diamonds from India decreased by 34.49% from US$ 975.2 million in January-December 2008 to US$ 638.8 million in January-December 2009 while imports into India decreased by 37.77%, from US$ 983.4 million in January-December 2008 to US$ 612.0 million in January-December 2009. Balance of trade during January-December of 2009 is in
Israel’s favour by US$ 668.3 million. Share of India’s exports in Israel’s global imports (including diamonds) decreased from 2.53% in January-December 2008 to 2.44% in January-December 2009. Share of India’s exports in Israel’s global imports (excluding diamonds) increased from 1.21% in January-December 2008 to 1.23% in January-December 2009. Overview of
the Bilateral Trade and Cooperation in Major Sectors: (1) Diamond
Industry:
In 2009, Israel exported diamonds worth US$ 11.58 billion (Polished – US$ 9.41 billion, Rough – US$ 2.17 billion, by Gross numbers), which accounted for around 24.2% of Israel’s total export in 2009 (US$ 47.7 billion). The diamond imports in 2009 were worth US$ 5.3 billion (Polished – US$ 2.656 billion, Rough – US$ 2.650 billion, by Gross numbers), which accounted for around 11.2% of Israel’s total import that year (US$ 47.36 billion).
A number of Indian diamond dealers have opened offices at the Israeli Diamond Exchange building in Ramat Gan, in the Tel Aviv district, and some of these diamond dealers have been active here for many years now. In addition, a branch of the State Bank of India was opened in Ramat Gan (next to the Diamond Exchange buildings) on June 2007. Israel–India Bilateral Trade in Diamonds (Gross
Numbers) in millions of US$:
In 2009, Israel’s import of diamonds from India (US$ 638.8 million), accounted for 12% of Israel’s total import of diamonds (US$ 5306 million by gross numbers). And Israel’s export of diamonds to India in 2009 (US$ 612.0 million), accounted for 5.28% of Israel’s total export of diamonds (US$ 11,584 million by gross numbers). The Israeli diamond industry has been significantly affected by the global financial crisis. Israel’s exports of diamonds decreased by 40.28% in 2009 (from US$ 19.39 billion in Jan-Dec 2008 to US$ 11.58 billion in Jan-Dec 2009). Israel’s imports of diamonds decreased by 43.5% in 2009 (from US$ 9.38 billion in Jan-Dec 2008 to US$ 5.3 billion in Jan-Dec 2009). The crisis can also be clearly seen in the bilateral trade in diamonds between Israel and India which accounts for a large part of the total trade between the two countries. In 2009, trade in diamonds accounted for 41.9% of the total bilateral trade (US$ 1250.8 million out of US$ 2983.1 million; total by Gross Numbers) whereas in 2008 trade in diamonds accounted for 48.8% of the total trade (US$ 1958.6 million out of US$ 4010.1 million; total by Gross Numbers).
As the table below shows, there was a decrease of 36.14% in diamonds traded between the two countries during January-December of 2009, from US$ 1958.6 million in 2008 to US$ 1250.8 million in 2009. Exports of diamonds from India decreased by 34.49% from US$ 975.2 million in January-December 2008 to US$ 638.8 million in January-December 2009 while imports into India decreased by 37.77%, from US$ 983.4 million in January-December 2008 to US$ 612.0 million in January-December 2009. Israel –
India Bilateral Trade in Diamonds – Comparing Jan-Dec 2008 to Jan-Dec 2009 (Gross
Numbers, in millions of US$):
(2) Agriculture: Agriculture is one of the major areas in which there is a substantive cooperation between the two countries. In fact, high-level exchanges took place in the field of Agriculture, including a visit to India by a high level delegation led by Mr. Shalom Simhon, Minister for Agriculture and Rural Development, in January 2008, and visits by high level Indian delegations led by Dr. P.K. Mishra, Secretary (Agriculture and Cooperation) in April 2008 and Shri T. Nanda Kumar, Secretary (Agriculture & Cooperation) in January 2010. Action Plan for Bilateral Agriculture Cooperation for 2008-10, was agreed to, during the visit of Dr. P.K. Mishra, Secretary (Agriculture and Cooperation) in April 2008. In addition some leading Indian corporate groups and cooperatives including National Cooperative Union of India, Mahindra & Mahindra, IFFCO Kisan SEZ, Yes Bank, Amul Dairy and Sumul Dairy also visited Israel for tie ups with Israeli companies in the field of agriculture, horticulture, irrigation and dairying. A comprehensive Work Plan for cooperation in the field of agriculture was signed on 10th May 2006. The Work Plan outlines the priorities for joint collaborations in agriculture research, energy efficient greenhouses, irrigation, post harvest management and value addition for fruits, vegetables and dairy products, input delivery mechanisms, dairy development through genetic upgradation, recycling of wastewater, exchange of genetic material, higher education for scholars and research students and training for scientist, technicians, government officials under the MASHAV (The Center for International Cooperation of Israel’s Ministry of Foreign Affairs) / CINADCO (The Centre for International Agricultural Development Cooperation of Israel’s Ministry of Agriculture and Rural Development) training programmes. The Work Plan which was to be in force till 1.6.2008 was followed by an Action Plan 2008-2010. Under the Action Plan Projects are being undertaken with the help of experts from CINADCO in the State of Haryana, Maharashtra, Rajasthan and Gujarat. A large Indian delegation comprising Mr. Sharad Pawar, Union Minister of Agriculture, three Ministers of Agriculture from various States, four Chief Ministers, and hundreds of farmers and business people participated in the 16th International Agricultural Exhibition-Agritech 2006, the largest agricultural exhibition in Israel, in May 2006. The 17th International Agricultural Exhibition (Agritech 2009) took place in the Tel-Aviv Exhibition Grounds on May 5-7, 2009. Thousands of foreign visitors including over 600 from India attended the exhibition. Several delegations arrived from India for Agritech 2009 including a 11-member official delegation from the Indian Ministry of Agriculture, a 15-member FICCI (Federation of Indian Chambers of Commerce and Industry) delegation and a 17-member IMC (Indian Merchants Chamber) delegation. In November 2009 Chief Ministers of Punjab and Himachal Pradesh led high level delegations to visit WATEC Israel 2009 Exhibition which showcased Israel’s expertise in water technologies. In addition, delegations from CII, Indian Merchant Chambers of Commerce and many businessmen also visited the exhibition. One of the most
important bilateral corporations / acquisitions in the agricultural sector
between Israel and India includes the acquisition of 50% of Israel’s Naandan Irrigation Systems C.S. Ltd by India’s Jain
Irrigation Systems Ltd. Other Israeli companies which have been
highly active in India in the agricultural sector include the following:
Netafim, Plasson, Plastro Gvat, Agrexco, Hazera Genetics, Hakohav
Valves Industries, Zeraim, Tahal
Consulting Engineers and IDE
Technologies, Hofit Kibbutz Kinneret, Avshalom Group, and Bermad. In addition, it is also important to note the Joint Venture between Rajasthan State Agricultural Marketing Board and two Israeli companies for cultivation of Olive Plants (2006). This project is already taking shape near Jaipur. Moreover, it was reported that four Centers of Excellence will be established in the State of Maharashtra as a part of Indo-Israel cooperation to enhance quality and yield of Alphonso Mango, Keshar Mango, Pomegranate and Orange. Two such Centers of Excellence will also be established in Haryana. (3) Pharmaceuticals: Some of the biggest Israeli pharmaceutical companies have been highly active in India for some years now including Teva, which is the largest pharmaceutical company in Israel and among the largest Generic Pharmaceutical companies in the world. Teva invested millions of dollars in its R&D facility in Noida, and opened offices in few locations in the country. Another Israeli pharmaceutical company which
has been involved with India is Taro pharmaceuticals. The company has signed
a deal with the Indian Sun Pharmaceuticals, however the matter has ended in a
court of law and still has to be settled. In addition, major collaborations
/acquisitions in the pharmaceutical industry in the recent years include the
following: The Indian pharmaceutical company, Himalaya, in collaboration with a local partner, Hollander Nussbaum Limited has launched on November 2007, a range of its personal health care products in Israel. Agreement of Cooperation between India’s
Century Pharmaceuticals and Israel’s biotech company Target-In. In March 2009, the Israeli Pharmaceutical
company Orokia participated in MP Exportech Buyer – Seller meet and
Exhibition in Indore, Madhya Pradesh. Collaboration
between 1Optima Ltd and India’s Care Group subsidiary, Intraocular Care
Private Limited. (4) Real
Estate: Many Israeli Real Estate companies have invested in India and / or collaborated with Indian companies. Israeli Real Estate companies which have been active in India in recent years include the following: Big Shopping Centers, Engelinvest Group, Gindi Holdings, Elbit Imaging, Alony-Hetz, Delek Group, Direct Real Estate, Plaza centers, Electra Real Estate, Azorim, Levinstein, Jerusalem Economic Corporation (JEC), Gazit Globe, Property and Building Corporation Ltd (PBC), Shikun & Binui, and Dan Hotels. (5) Information Technology: Israeli companies have been global leaders in developing and implementing IT software solutions, systems and packages. The Israeli IT sector contains both dozens of well established enterprises (such as: Checkpoint, Amdocs, Comverse, and Ness Technologies) and hundreds of startups. Israel has more than 10,000 computer scientists working for nearly 400 software houses and hundreds more start-ups. Some major Israeli IT companies have
been highly active in India for some years now. Some of these companies
established R&D centers in India and / or have subsidiary in the
country including the
following: Amdocs, Magic Software Enterprises, Nice Systems, NDS
Technologies, Ness Technologies, E-Sim, Comverse, Check Point Software
Technologies, Aladdin, Celltick Software Technologies,
Fundtech, Cellocator, Atrica, Aqua, Niloosoft and more. A
13-meber delegation composed leading Israeli IT companies, visited India from
June 29, 2009 until July 3, 2009 in order to further explore the potential of
collaboration between Israeli and Indian IT companies. The delegation was
organized by Israel Export and International Cooperation Institute under the
“Shavit” programme. (6) Telecommunications: India is the world’s fastest growing telecom market. In fact, according to a press release by the Telecom Regulatory Authority of India, total telephone subscriber base reached 543.20 million (as of Nov 30, 2009). 17.65 million new mobile subscribers were added in the month of November 2009. Israeli telecom companies acknowledge the huge opportunity that the Indian telecom market has to offer, therefore, many of them are already active in India.
Israeli Telecom companies which are
highly active in India include the following: ECI Telecom, Celletra, Ceragon
Networks, Veraz Networks, Rad
Data Communications, Alvarion, AudioCodes, Orckit, Gilat Satellite
Networks, BATM Advanced Communications, ClassifEye,
Towervision, EVT, CallUp Net, and more. A 19-member
delegation composed leading Israeli Telecom companies visited India from
September 7-11, 2009, in order to explore possible corporation between
Israeli and Indian Telecom companies. The delegation was organized by the
Israel Export and International Cooperation Institute under the “Shavit” programme. (7) Chemicals and Agro - Chemicals: The Israeli Chemical companies which
have been highly active in India in recent years include the following: Makhteshim
Agan, Israel Chemicals, and ICL Fertilizer Ltd. A 5-member delegation composed of leading Israeli Chemicals companies visited India from October 20-22, 2008 in order to attend IndiaChem exhibition and the Reverse Buyer Seller Meet organized by CHEMEXCIL in Mumbai. The visit was sponsored by CHEMEXCIL. In December 2009 another 3-member delegation of Israeli chemical companies was sponsored by CHEMEXCIL to attend Indiachem Gujarat 2009 in Ahmedabad. (8) Semiconductors: The Israeli Semiconductor company Tower Semiconductors have been highly active in India in the recent years. Tower Semiconductors has collaborations with both SamIndia and HCL. Another Israeli Semiconductor company which is active in India is Emblaze Semiconductor. (10) Indian companies with presence in
Israel: While several Israeli companies have established presence in India, recently Indian companies have also started looking seriously at Israel. Indian companies which already established presence in Israel includes the following:
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