Israel's Ya'alon to attend Aero India

Israel's Ya'alon to attend Aero India

Israel's Ya'alon to attend Aero India

Israeli Defence Minister Moshe Ya’alon is attending Aero India 2015, the biennial  military air show and exhibition in Bengaluru, to sign deals worth up to $1.5 billion.

Talking to Deccan Herald, Federation of Indo-Israel Chamber of Commerce (South) President Oron Snir said Ya’alon’s presence at Aero India will further boost Indo-Israel business relations, especially in defence and aviation segments. “India, one of the largest consumer of defence products, is the third largest trade partner of Israel. With the current ‘Make in India’ campaign and defence offset policy, Israel is ready to take up the business and defence relations to the next level,” said Snir.

The defence minister will be accompanied by  a 100-member delegation representing around 30 companies. “Twenty- five companies from Israel are ready to sign joint venture agreements with Indian companies in the aerospace sector,” he said. The minister will also hold meetings in New Delhi with government officials.

The chamber is working hard to make the defence minister’s visit a success, along with CII, the Israel consulate, Israel’s Ministry of Defence, the Ministry of Trade, Commerce and Economy, and the Israel Export Institute.

“The chamber plans to hold around 150 business meetings during the aeroshow. Meeting are not charged for members but non-members will have to pay a fee,” he said.  The chamber also identified 80 Indian companies, which include PSU majors and private companies, and also a few MSMEs as potential partners.

While Israeli exports to India reached $6 billion in 2014, India’s exports to Israel reached $3 billion in the same period, said Snir. “We export mainly defence products ($2.5 billion), diamonds ($800 million), chemicals ($800 million), technology ($300 million), and agriculture equipment ($500 million) to India. We also trade in industrial goods, textiles, BT and healthcare,” he said.

Snir said healthcare sector cooperation is one of the fastest growing areas where India wants more products and technologies. Prime Minister Narendra Modi had met Israeli Prime Minister Benjamin Netanyahu in New York in September on the sidelines of the UN General Assembly in a highly publicised meeting. Home Minister Rajnath Singh also visited Israel last year.