25 Years Of Bilateral Trade
There has been a steady rise in bilateral trade and economic relations every since diplomatic relations between India and Israel were established in 1992. From USD 200 million in 1992 (comprising primarily of diamonds), merchandise trade diversified and reached USD 4.16 billion (excluding defence) in 2016
Israeli company IDE has built several desalination plants in India. A 100 MLD per day desalination plant set up by IDE at Nemelli in Tamilnadu was commissioned in 2013, the second such plant in Chennai. Israel’s national water company Mekorot, is providing its expertise to concerned organizations in Greater Mumbai and West Bengal. Tahal group signed a USD 74 million deal with the Karnataka Government to design, construct and operate a water supply system to 131 villages in the State
Industrial and R&D Cooperation: Under a bilateral agreement in May 2005 the India-Israel Initiative for Industrial R&D (i4RD) was set up to support joint industrial R&D projects, aimed at development of products or processes leading to commercialization in the global market. This cooperation agreement was signed between the Ministry of Science and Technology, Department of Science and Technology (DST), India and the Ministry of Economy, Israel. i4RD provides partner matching services and funding for joint bilateral research and development (R&D) projects, involving at least one Indian and one Israeli company.
The framework is jointly implemented by Global Innovation and Technology Alliance (GITA), and MATIMOP, Israeli Industry Centre for R&D. Currently funded projects are focused on the hi-tech sector, for development of both software and hardware technologies.
In March 2013, under an MOU between MATIMOP, on behalf of the Office of the Chief Scientist (OCS) in Israel; and the Karnataka Science and Technology Promotion Society (KSTePS) and the Karnataka State Council for Science and Technology (KSCST), the Karnataka-Israel Industrial R&D program was set up to provide partner matching assistance and access to funding for industrial R&D by Israeli and Indian companies based in Karnataka.