Indian Prime Minister Visited Israel

• Narendra Modi has become the first Indian Prime Minister to visit Israel to mark 25 years of diplomatic relations between the two nations.

Highlights of the visit:

• Both Countries signed seven agreements on areas including space, tech and agriculture.
• India has assured faster facilitation of OCI cards for Jewish Citizens of Indian origin in Israel.
• The launch of a new Air India flight connecting India and Israel was announced, the flight is expected to connect Delhi/Mumbai with Tel Aviv.
• Israeli Crysanthumun flower was named “MODI” after Prime Minister Narendra Modi, during the Indian Premier’s visit to the Danziger flower farm, which is one of the leading floriculture companies of Israel having founded in 1953.
• Both Countries have announced that they have elevated their ties to a strategic partnership as India has identified Israel as a major development and technological partner.
• Both countries have also agreed to combat growing radicalization and terrorism and expand co-operation in cyber security.
• Establishment of an Indian Cultural Centre in Israel to enhance people-to-people contacts between the two countries.
• The $40 million Israel India Innovation Initiative Fund has been launched as a five-year technology fund with an aim at growing the business relationship between both the countries.

Analysis:

• Economic relations between India and Israel have flourished since the establishment of formal diplomatic ties in 1992.
• Bilateral trade at the time was worth $200 million and mainly consisted of diamonds. By 2016, that figure had skyrocketed to $4.16 billion, excluding defense expenditure.
• In 2016, India accounted for 3.3% of Israel's trade, with imports and exports including agriculture, textiles, machinery, and chemical and mineral products.
• Israel has in recent years become an important defense supplier for India. The two countries signed an air and missile defense deal worth almost $2 billion in April, in what Israel termed the "largest defense contract deal" in its history.
• There has been a focus on defense and counter-terrorism and it is important. This kind of cooperation enhances the confidence that countries have with each other.

By: Vishal