India-Israel trade expected to grow tenfold in next decade, says Piyush Goyal

The total bilateral business of India-Israel was at $2.36bn from November 2024.

India’s Commerce Minister Piyush Goyal expressed confidence that bilateral trade of India and Israel could increase tenfold in the next 12 to 13 years, driven by mutual investments and strategic collaboration.

Current Trade Figures

📊 India and Israel bilateral trade (April–November 2024):

🔹 Total trade – $2.36 billion

🔹 India’s exports to Israel – $1.31 billion (⬇ 62.14% YoY)

🔹 India’s imports from Israel – $1.05 billion (⬇ 25.16% YoY)

Despite the current dip in trade, Goyal remains optimistic about long-term growth through enhanced business cooperation.

Vision for Growth

🗣️ Speaking at the India and Israel Business Forum in New Delhi, Goyal emphasized:

✅ The potential for 10x growth in bilateral trade and investments

✅ India’s goal to become a $30-35 trillion economy by 2047, aligning with the Viksit Bharat vision

✅ Strengthening economic ties through technology, innovation, and trade partnerships

He also reiterated India’s zero-tolerance policy on terrorism and its commitment to global peace and security, further solidifying the India-Israel strategic partnership.