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Israel and India Sign Investment Deal Amid Gaza War Controversy

Rohan 28 Views 2 min read

Israel and India have signed a bilateral investment agreement aimed at boosting mutual trade and investment, even as Israel faces global outrage over its ongoing war in Gaza.

Strategic Deal Signed in New Delhi

The agreement was formalized in New Delhi during the visit of Israel’s far-right Finance Minister Bezalel Smotrich, who has been sanctioned by several Western countries for his role in supporting illegal settlements in the occupied West Bank.

Smotrich signed the deal alongside India’s Minister of Corporate Affairs Nirmala Sitharaman, who emphasized greater cooperation in cybersecurity, defence, innovation, and high-technology.

Calling it a “strategic step for joint vision,” Smotrich said the pact will strengthen Israeli exports and create new opportunities for investors in both countries.

India’s Ministry of Finance described the deal as a “historic milestone”, with cooperation expected in fintech innovation, infrastructure development, financial regulation, and digital payment connectivity.

Trade and Defence Cooperation

Bilateral trade between India and Israel stood at $3.9 billion in 2024, with mutual investments worth about $800 million, according to official data.

A significant portion of this trade revolves around defence and security, as India is Israel’s largest weapons buyer. Reports revealed that in 2024, Indian firms also supplied Israel with rockets and explosives during its Gaza campaign.

Gaza War and Global Outrage

The deal comes amid growing condemnation of Israel’s war on Gaza, which has killed more than 64,000 Palestinians since October 2023. Despite international calls for a ceasefire, India has abstained from multiple United Nations resolutions critical of Israel’s actions.

Indian authorities have also cracked down on pro-Palestine protests, at times criminalizing them, while permitting pro-Israel rallies.

India’s Shifting Foreign Policy

While India maintains official support for a two-state solution, its actions show closer alignment with Israel.

  • India condemned Hamas’s October 7, 2023, attack as “an act of terror.”

  • It has refused to condemn Israel’s strikes on Iran.

  • Israeli companies are seeking to hire up to 100,000 Indian workers to replace Palestinians barred from working in Israel.

In a broader geopolitical context, India has also sought to repair relations with China, with President Xi Jinping recently urging Prime Minister Modi to strengthen ties rather than rivalry during the SCO summit in Tianjin.

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Rohan
Rohan
Principal Consultant at Market Stats Insight
Rohan Patil is a seasoned Healthcare Principal Consultant at Market Stats Insight and Precedence Research, with more than 5 years of experience in market intelligence and strategic insights. Holding a BSc in Biotechnology and an MBA in Marketing, he combines scientific expertise with business acumen to deliver data-driven analysis. Rohan specializes in the medical device sector and closely tracks innovations shaping the future of healthcare. His research helps global clients identify growth opportunities, assess risks, and stay competitive in a rapidly evolving market landscape.
Rohan
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Rohan

Rohan Patil is a seasoned Healthcare Principal Consultant at Market Stats Insight and Precedence Research, with more than 5 years of experience in market intelligence and strategic insights. Holding a BSc in Biotechnology and an MBA in Marketing, he combines scientific expertise with business acumen to deliver data-driven analysis. Rohan specializes in the medical device sector and closely tracks innovations shaping the future of healthcare. His research helps global clients identify growth opportunities, assess risks, and stay competitive in a rapidly evolving market landscape.