Jaishankar meets Israeli Economy Minister Nir Barkat, discuss trade, technology and investment cooperation

New Delhi: External Affairs Minister (EAM) S Jaishankar met Israel’s Minister of Economy and Industry, Nir Barkat, in New Delhi to explore avenues for bolstering trade, technology, and investment ties.

In a post on X (formerly 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.”

Great to meet Minister of Economy & Industry @NirBarkat of Israel today in Delhi.

Discussed strengthening the potential of our trade, technology and investment cooperation. Also exchanged views on developments in the region.

🇮🇳 🇮🇱 pic.twitter.com/5HgT704KnC

— Dr. S. Jaishankar (@DrSJaishankar) December 3, 2024

During his visit, Minister Barkat emphasised 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.

He highlighted the immense potential of India-Israel cooperation, noting, “The sky is the limit” for bilateral business growth. Barkat added, “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.”

Delighted to meet Officer Trainees from the 2024 batch of Indian Foreign Service, along with two Bhutanese colleagues today.

Shared experiences of diplomatic service and foreign policy. Wished them best in their careers and future endeavours. pic.twitter.com/ljl1lnEKJ7

— Dr. S. Jaishankar (@DrSJaishankar) December 3, 2024

The Israeli minister also addressed concerns regarding safety following recent conflicts in the region. He assured that Israel is “100 per cent safe” for travel and business, citing the continued operations of Israeli carrier El Al as evidence of the region’s stability.

Barkat stressed, “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.”

My statement in Lok Sabha regarding ‘recent developments in India’s relations with China’.

https://t.co/ARbqpArKPv

— Dr. S. Jaishankar (@DrSJaishankar) December 3, 2024

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. According to the Ministry of External Affairs, India remains a ‘focus’ country for Israel’s expanding trade efforts.