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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$ 4747.1 million
in 2010 (an increase of 59.92% compared to 2009, US$ 2968.3 million). In 2010, India stood at the sixth place in terms of
Israel's trade partner countries and the third largest trade partner in Asia after
China and Hong Kong (trade data includes diamonds) and remained a 'focus'
country of the Israeli Government for increased trade effort. In 2010,
India was ranked 9th largest import source of Israel including
diamonds, and 14th largest import source excluding diamonds. In
addition, India was ranked 4th largest export destination of
Israel (including diamonds) and 5th when excluding diamonds (in
Jan-Dec 2010). While India's
exports to Israel in areas other than diamonds have increased over the years,
Diamonds still constituted around 49% of the bilateral trade in the year
2010. Major exports
from India to Israel include 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 exports from
Israel to India include 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
March 2011 totaled US$ 53.14 million placing it at 38th rank (0.04% of total
FDI inflows to 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: ·
Agreement for Promotion and Protection of Investments (Jan 1996) – Click here for the text of the
bilateral agreement ·
Avoidance of Double Taxation and for the Prevention of Fiscal evasion
with respect to Taxes on Income and on Capital (Jan 1996) ·
Bilateral Agreement regarding Mutual Assistance and Cooperation in
Customs Matters (1996) ·
Agreement on Cooperation in Peace Uses of Outer Space (2002) ·
Agreement for Cooperation in the field of Protection of the
Environment (2003) ·
MOU on India-Israel Research and Development Fund Initiative (2005) ·
Agriculture Work Plan (2006) Recent High-level Visits: There have been many high
level bilateral visits in 2010 and 2011 which have given a great impetus to
the bilateral relations. The Israeli Minister of Industry, Trade and Labor,
Mr. Benjamin Ben-Eliezer, visited India in January 2010 along with a big
trade delegation. Minister of State for Commerce and Industry Mr. visited
Israel in Feb 2010 folljowd by visit in March of Mr. Prithviraj Chavan,
Minister of State for Science & Technology and Earth Sciences. The
Israeli Minister for Agriculture and Rural Development visited India in April
2011 and had extensive discussions with our Minister for Agriculture and
other senior officials in the context of India-Israel cooperation in
Agriculture. In this context the two Ministers signed a joint declaration and
also agreed to appoint joint teams to work out an action plan for the years
2012-2014. Minister of State for Telecommunications & IT Mr. Sachin Pilot
visited Israel from May 30-June 1, 2011 and met the Israeli Minister for
Industry, Trade & Labor and Minister for Communications. Mr. Pilot also
attended the Israeli High Tech Industry’s Annual Conference and met Israeli
entrepreneurs. 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. 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). Shavit Programme: On March 30,
2009, the Israeli Export and International Cooperation Institute (IEICI), a
semi- government organization under the Israeli Ministry of Industry, Trade
& Labour had introduced the “Shavit Program” which focused on the three
fastest growing economies of the world: India, China and Brazil. In the
Indian context the program initially focused on three main sectors: Telecom,
IT, and Home Land Security and later widened to include, Agriculture
&Water management and biotech. Under this programme delegations from HLS,
IT and Telecom Sectors visited India resulting in much greater interaction
between the Indian and Israeli companies. Though this programme is now
officially wound up, the Israeli Ministry of Industry, Trade & Labor in
cooperation with their Ministry of Finance have introduced a new programme to
expand the country’s exports to India and China. A sum of US$ 100 million has
been allocated to this programme which, to begin with, is aimed at helping
about 20 Israeli companies to expand their exports to India. This new
programme is expected to be active and running shortly. Bilateral trade figures for the period January-December
2010: Salient points of the bilateral trade figures during
January–December 2010 (Central Bureau of Statistics of Israel) are as
follows: §
India-Israel two-way trade during Jan-Dec 2010 increased by 59.92%
from US$ 2968.3 million in Jan-Dec 2009 to US$ 4747.1 million in Jan-Dec
2010. §
Indian exports to Israel during January-December of 2010 increased
by 59.45% (from US$ 1157.4 million in Jan-Dec 2009 to US$ 1845.5 million in Jan-Dec
2010). Indian exports to Israel excluding diamonds increased by 37.68% (from
US$ 518.2 million in Jan-Dec 2009 to US$ 713.5 million in Jan-Dec 2010). §
Israeli exports to India during January-December of 2010 increased
by 60.22% (from US$ 1810.9 million in Jan-Dec 2009 to US$ 2901.6 million in
Jan-Dec 2010). Israeli exports to India excluding diamonds for this period
increased by 41.05% (from US$ 1198.5 millions in Jan-Dec 2009 to US$ 1690.6
millions in Jan-Dec 2010). §
There was an increase of 87.2% in diamonds traded between the two
countries during January-December of 2010 (from US$ 1251 millions in Jan-Dec
2009 to US$ 2343 millions in Jan-Dec 2010). Exports of diamonds from India to
Israel during this period increased by 77.09% (from US$ 639.2 million in
Jan-Dec 2009 to US$ 1132 million in Jan-Dec 2010) while imports into India
increased by 97.74% (from US$ 612.4 million in Jan-Dec 2009 to US$ 1211
million in Jan-Dec 2010). §
Balance of trade during January-December of 2010 is in Israel’s
favor by US$ 1056.1 millions. §
Israel’s two-way global trade during January-December of 2010
increased by 23.34% (from US$ 95,303.7 million in Jan-Dec 2009 to US$
117,553.0 million in Jan-Dec 2010). India’s share in Israel’s two way global trade
in this period increased from 3.11% (in Jan-Dec 2009) to 4.03% (in Jan-Dec
2010). §
Share of India’s exports in Israel’s global imports (including
diamonds) for this period, increased from 2.44% (in Jan-Dec 2009) to 3.12%
(in Jan-Dec 2010). §
Share of India’s exports in Israel’s global imports (excluding
diamonds) for this period increased from 1.23% (in Jan-Dec 2009) to 1.4% (in
Jan-Dec 2010). §
India is ranked 9th largest import source of Israel
including diamonds, and 14th largest import source excluding
diamonds (in Jan-Dec 2010). §
Share of Israel’s exports to India in Israel’s global exports
(including diamonds) for this period, increased from 3.77% (in Jan-Dec 2009)
to 4.96% (in Jan-Dec 2010). §
Share of Israel’s exports to India in Israel’s global exports
(excluding diamonds) for this period increased from 3.29% (in Jan-Dec 2009)
to 4.02% (in Jan-Dec 2010). §
India is ranked 4th largest export destination of Israel
(including diamonds) and 5th when excluding diamonds (in Jan-Dec
2010). Overview of the Bilateral Trade and Cooperation in Major
Sectors: (1) Diamond Industry: While
India's exports to Israel in areas other than diamonds have increased over
the years, Diamonds still constituted around 49% of the bilateral trade in the
year 2010. 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. There was an increase of 87.2% in
diamonds traded between the two countries during January-December of 2010
(from US$ 1251 millions in Jan-Dec 2009 to US$ 2343 millions in Jan-Dec
2010). Exports of diamonds from India to Israel during this period increased
by 77.09% (from US$ 639.2 million in Jan-Dec 2009 to US$ 1132 million in
Jan-Dec 2010) while imports into India increased by 97.74% (from US$ 612.4
million in Jan-Dec 2009 to US$ 1211 million in Jan-Dec 2010). Israel–India Bilateral Trade in Diamonds (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. In
addition, on August 1-6, 2010, Mr. Sukhbir Kataria, Minister of State for
Agriculture, Government of Haryana, visited Israel on an exposure visit on
the cultivation technology and post harvest management of citrus, olives and
mango under the Indo-Israel Project of National Horticulture Mission. It was reported recently that several
Indo-Israeli Centers of Excellence will be established in the States of
Maharashtra (as a part of Indo-Israeli cooperation to enhance quality and
yield of Alphonso Mango, Keshar Mango, Pomegranate and Orange) and Haryana. In fact, in the end of January 2011, a
new Indo-Israeli Centre for Vegetable Excellence was inaugurated in Gharaunda
in the State of Haryana. Some 3,000 farmers from
Haryana attended the ceremony, along with Union Agriculture Minister Sharad
Pawar, Haryana Chief Minister Bhupinder Singh Hooda and Israel's Ambassador
to India Mark Sofer. More
recently, a high
level 12-member delegation led by Chief Minister of Haryana, Mr. Bhupinder
Singh Hooda, visited Israel from April 10-15, 2011 to have a firsthand
knowledge of Israel’s expertise in agriculture and water management and to
explore ways to increase the ongoing cooperation between the State of Haryana
and Israel in the field of agriculture.
(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. In fact, India’s Sun Pharma acquired a controlling stake in
Taro in September 2010 after completing an option agreement first entered
into in 2007 with the controlling shareholders of Taro. Sun's subsidiaries
have subsequently increased their economic interest in Taro to 66%. 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 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, Ness Technologies, Check Point Software
Technologies, Aladdin, Celltick Software
Technologies, Fundtech, Cellocator, Atrica, 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 the Telecom Regulatory Authority of India, total telephone
subscriber base reached 846.32 million (as of March 31st 2011). 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: Rad
Data Communications, ECI Telecom, Celletra, Ceragon Networks, Veraz Networks,
Alvarion, AudioCodes, Orckit, Gilat Satellite Networks, BATM,
Towervision, 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. In June 2010, several high level
delegations from India visited Israel to attend the Israeli High-Tech
Industry Association (HTIA) annual event in Jerusalem. This included a
3-member official delegation from the Department of Information Technology,
Government of India, a 35-member delegation of senior representatives of top Indian IT
& Telecom companies, and a 15-member delegation of senior businessmen /
investors from the Indian Angel Network. Three collaboration agreements were
signed during the HTIA event between the Israeli High-tech Industry
Association and three leading Indian High-tech Associations (namely the
Indian Telecom Manufacturers Association, the Indian Chip Industry
Association and the Indian Global Entrepreneurs Association). Recently there were some notable
M&A deals between Indian Telecom companies and Israeli companies. India’s
Tejas Networks Ltd acquired the Israeli carrier Ethernet solutions start-up
Ethos Networks Ltd (now called Tejas Networks Israel) for an estimated US$ 25
million. In addition, India’s Connectiva Systems Ltd acquired Israeli
start-up Olista Ltd for an estimated US$ 20 million. Olista will become
Connectiva’s Israel R&D center and will double its workforce. Olista
developed customer analysis software for mobile operators. (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. (9) 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: ·
Tata Consultancy Services (TCS
Israel, 2005) ·
Jain Irrigation (Naandan Jain Irrigation) ·
State Bank of India (SBI, Ramat Gan Branch, 2007) ·
Tejas Networks (Tejas Israel, 2009) |
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