‘The Sky is the Limit’: Israel’s Economy and Industry Minister Talks Trade in India

Jerusalem, 4 December, 2024 (TPS-IL) -- New Delhi (ANI): Indian External Affairs Minister S Jaishankar met Israel’s Minister of Economy and Industry, Nir Barkat, in New Delhi on Tuesday to explore avenues for bolstering trade, technology, and investment ties.

In a post on X, formerly known as Twitter, Jaishankar said, “Great to meet Minister of Economy & Industry Nir Barkat of Israel today in Delhi. Discussed strengthening the potential of our trade, technology and investment cooperation. Also exchanged views on developments in the region.”

Barkat emphasized the need for enhanced connectivity between the two nations, particularly through increased flight operations. Speaking to ANI, he said that greater connectivity would significantly boost business and tourism ties.

“The sky is the limit” for bilateral business growth. Barkat said, “Once we have a better trade understanding, more agreements and more collaborations between the countries and flights, I believe you can scale in double-digit numbers every year in the next foreseeable years.”

He assured that Israel is “100 percent safe” for travel and business, citing the continued operations of Israeli carrier El Al.

“We want to encourage people, get the flights back on track, and for people to come and visit and do business. I look at the future and I see the opportunity,” he said.

Discussions are reportedly ongoing to improve flight connectivity between India and Israel.

Since the establishment of diplomatic ties in 1992, India-Israel relations have witnessed rapid growth, especially in trade and economic sectors. India is Israel’s second-largest trading partner in Asia, with bilateral merchandise trade historically dominated by diamonds, petroleum products, and chemicals.

In recent years, however, there has been a notable increase in trade involving high-tech products, electronic machinery, communication systems, and medical equipment.